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Get your taxes done using TurboTax
@nexchap earlier in the thread you mentioned that the cost basis was the [purchase cost]+[adjustment to basis]+[ordinary gain].. Why is the ordinary gain included? why not just [purchase cost]+[adjustment to basis]?
Isn't the ordinary gain accounted for in the 1099-B by most brokers (via the proceeds - unrep. cost basis), meaning we just need to subtract out the distributions? or am I misunderstanding the rules for calculating cost basis
Isn't the ordinary gain accounted for in the 1099-B by most brokers (via the proceeds - unrep. cost basis), meaning we just need to subtract out the distributions? or am I misunderstanding the rules for calculating cost basis
‎June 7, 2019
4:04 PM