DH21
Level 2

Investors & landlords

Also, as an FYI, in the 1099-B section of Turbo Tax... after entering the sales information for a Mutual Fund you can eventually get to a screen where you are prompted to enter details for all purchass. In my case, the fund company was able to provide a 1099-B cost basis for about one-third of the total sales amount. For the other two-thirds they provide the net proceeds, but indicate it's up to the taxpayer to calculate the cost basis (because their recordkeeping does not go back in time that far). I can pay tax on the full amount, but I have reported income and paid taxes on annual distributions since 1991, so I am trying to come up with an accurate cost basis and only pay taxes on the fraction of these proceeds that I have not already reported and paid. But I will refer to IRS 550 and see if that provides the info I need. Thanks again!