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Get your taxes done using TurboTax
Long or short term refers to how long you owned the asset before the return of capital payment. Long term is more than one year, short term is one year or less.
You will need to review the transactions and select long term or short term for each based on how long you own it.
Return of capital payments are not taxable, but they do reduce your basis (but not below zero) in the underlying investment.
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‎February 21, 2023
10:05 AM