turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes & Forms (2024) on Mar 19! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

mrzip1
New Member

I sold mutual fund shrs, purchased on different dates and at different prices. Do I have to submit supporting documentation to show cost basis to the IRS or N J Revenue?

I made a similar sale in 2023 and was instructed, by TurboTax, to submit supporting documentation for my cost basis. This year, 2024, no such instructions.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I sold mutual fund shrs, purchased on different dates and at different prices. Do I have to submit supporting documentation to show cost basis to the IRS or N J Revenue?

You don't need to prove cost basis unless you are audited.

That is also true for 2023 and earlier years.

 

@mrzip1 

mrzip1
New Member

I sold mutual fund shrs, purchased on different dates and at different prices. Do I have to submit supporting documentation to show cost basis to the IRS or N J Revenue?

Thank you for the quick response.  I probably went through the same anxiety the last time and misread the instructions.  I see now that the instructions were referencing FORM 8949. I printed out the Cap Gains report from quicken and assumed that I included it

 

Thanks, again

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question