Had to Share - Gift from Grandmother

Mom987

I just think this is so sweet. My grandmother who passed away of ALS 10 years ago had purchased a total of about 14 shares in Coca-Cola stock in my name back in 1998! My dad just gave me the paperwork and stock certificates, and she had purchased 2-3 stocks at a time which were represented with these certificates. I thought that was so sweet of her to buy those for us (she bought the same for my siblings). It is now worth $1,900 and we're going continue monthly investments. I called Coca-Cola today to access the account and change to my married name, new address, figure out online login info, etc.

CuriousKiddosMama

That is an amazing gift. And it's awesome you are going to leave it there, that means you will have it for something big someday like a house or your own retirement which I'm sure would make any grandparent smile.

Mom987

vikingsfan711 said:

That is an amazing gift. And it's awesome you are going to leave it there, that means you will have it for something big someday like a house or your own retirement which I'm sure would make any grandparent smile.

Yes! Even today I was smiling thinking that she would be proud and excited for us to have it. So sweet that she bought 2-3 shares at a time for us... I'm still looking at all the details but I know for sure there were 14 actual stocks purchased back in the day.

JoanE2012

Awww, how nice!  Just make sure you keep track of every purchase and corporate action (stock split, dividend, etc).  DRIP investing (which it sounds like what you're doing....buying a few shares each month), can become a nightmare when you sell (figuring out your cost basis) if you don't keep diligent records. 

Mom987

JoanE2012 said:

Awww, how nice!  Just make sure you keep track of every purchase and corporate action (stock split, dividend, etc).  DRIP investing (which it sounds like what you're doing....buying a few shares each month), can become a nightmare when you sell (figuring out your cost basis) if you don't keep diligent records. 

Thank you for the tip! As of now we're transferring it all to my married name/address, obtaining all of the stock certificates to have everything accounted for, and it will all be electronic going forward. They were super nice and informative so I'm glad the transition is going okay so far.

Xstatic3333

Awww, what a sweet gift!

JoanE2012

Mom987 said:

Awww, how nice!  Just make sure you keep track of every purchase and corporate action (stock split, dividend, etc).  DRIP investing (which it sounds like what you're doing....buying a few shares each month), can become a nightmare when you sell (figuring out your cost basis) if you don't keep diligent records. 

Thank you for the tip! As of now we're transferring it all to my married name/address, obtaining all of the stock certificates to have everything accounted for, and it will all be electronic going forward. They were super nice and informative so I'm glad the transition is going okay so far.

Just keep diligent records going forward, even though it's electronic.  I always did electronic, and then a couple of my stocks changed transfer agencies (where all the record keeping was handled).  The new company just recorded it as "transfer in" on such and such date.....they didn't go back and enter all the old transactions.  Doubtful after this many years that the old company would have all of my old transactions, if they're even still around!

That said, I'm not a tax expert, just sharing some of my experiences I've had over the past decade.  Good luck!

Mom987

That is definitely helpful. Thank you!!