TT has imported gains for my silver i-shares for each month which total $13.45. The amount imported for each of the 12 gains is just over $1. Additional information in the form of many decimal points is given in the right hand column. The problem is that I don't know how to find or derive the original cost for the first cost entry. This is obviously necessary to compute the diminishing cost or other basis for each of the remaining 11 entries. Is the starting cost basis for these entries listed in a brokerage statement? Am I correct in assuming that this original cost amount is multiplied by the amount in the right hand column X the new cost basis with this amount deducted from that cost basis?
Given the complexity of other solutions, this seems all too easy! In any case, I am unable to apply any solution without knowing the initial cost basis.
Given the small amount involved, one suggestion was to report this as 0, but wouldn't TT disallow this?
Maybe I could list the cost as identical to a gain so it appears as a wash sale? But this is obviously inaccurate since fees are apparently not deducted from costs but are imported as gains!
Admittedly, I am a perfectionist and have spent many late nights trying to do this properly.
I welcome any elucidation on this matter. Practically speaking all I need is the initial cost to proceed with calculations.
Thanks!
