How to determine the cost basis for a Money Market fund?

[Noahbuddies1]

I held a Municipal Money Market fund in my investment portfolio for many years, which was recently sold. The price of the product was $1.00, the quantity was 975.63, and the proceeds from the sale were $958.63.  I received a 1099-B for this sale. When I imported/downloaded the transaction into TurboTax Deluxe from the financial institution, TurboTax is prompting me to enter a costs basis; also, it defaults the Sales category field to "Box B - Short Term noncovered".  It is my understanding that money market funds are similar to bank accounts where the cost basis is not applicable.  How do I handle this situation in TurboTax?

[maglib]

@Noahbuddies1 You are correct that most money market funds are stable meaning their NAV does not fluctuate. It may be off by small amounts.  Your way to handle this though is when you enter it into turbotax during the investment sale interview exactly as received from the broker.   But, choose "VARIOUS" as the purchase date.  You then can enter the cost basis equal to the proceeds manually.  You will also choose that it was long term.

It is a fairly simple interview in TT.

[fanfare]

if you sold 976 @1.00 and received 959 something is wrong, unless you paid some sort of commission or fee.

you have a loss of $17 so you should take it on your tax return.

@Noahbuddies1