Re:My Parents Give Me $28k a Year
by jws on Monday October 29, 2018 @09:33PM
(#18333336)
The problem here is that the buyer is dead and knowledge of the basis may be lost. It could be written down in a safe place, but not known to estate's executor.
[ Parent
| on HN ]
That was the historic reason, and it certainly had value. In the information age, I think we could consider requiring the recording of cost basic for assets purchased after some date. (The SEC started requiring brokerage firms to record cost basis a few years back, so we're on the way)