This is exactly my question. It will be a common question for buy and hold accumulators starting prior to January 1, 2012 when they begin to shift to consumers of their savings / investments.
It must be hard to answer, as the answer is hard to find on these message boards.
The mutual fund companies report two cost basis values, one for covered shares and one for non-covered shares. The IRS asks you to specify whether the shares being sold are covered or non-covered on both form 8949 and Schedule D.
It seems logical to use the two different values for cost basis.
But, you could calculate the cost basis of all shares sold (irrespective of covered and non-covered status) and use that cost basis in both 8949 forms.
That's the question - which way is correct?
