topic 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? in Investors & landlords

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?

mrzip1 — Tue, 03 Feb 2026 14:19:31 GMT

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.

Re: 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?

fanfare — Wed, 12 Feb 2025 01:25:25 GMT

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

That is also true for 2023 and earlier years.

@mrzip1

Re: 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?

mrzip1 — Wed, 12 Feb 2025 02:13:36 GMT

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