I sold shares from a Mutual Fund. I have had this Fund for over 30 years and my Grandfather set it up in my name. I don't have any idea the date it was started let alone any cost information. The fund was sold to a different Broker somewhere along the way. Received a 1099-B with very little information. Box 5 tells me it is a non-covered security, therefore they aren't required to populate Box 1b or 1e among others. I don't believe this was reported to the IRS, but how does one know?? The fund is set to REINVEST dividends and I get a 1099-DIV each year and report those dividends, which are taxable. I have a couple of questions: is this @1099-B just a FYI kind of thing since I get the 1099-DIV annually? If the first question is no, I need to report this on my taxes, then I don't know what to put in for the 1b date acquired or 1e the cost basis. My statements always refer to using the cost based method for reinvested transactions, but that might not mean the same thing for this. Trying to enter this in Turbo Tax is not straight forward, the first question about sales section doesn't make sense to my 1099-B because it doesn't mention any of the options. I can maybe assume it is long term non covered. From there I can select Mutual Fund and I think received as a gift is the right choice for the next category? after that I can fill in the boxes, but when done Turbo Tax doesn't like that I left the cost basis blank and the acquired date....any help would be greatly appreciated
