I am unclear on non covered mutual fund shares. I am kinda flummoxed by the whole thing
I have owned T Rowe Price fund shares since 2007, when I purchased $7000. I added 41k in 2015, for a total of 48k put in.
I sold half of that original 48k in 2017, brining my total invested to 24k.
In 2022, I purchased another 20k of the fund.
By late 2024, the total value of the account was something north of 125K.
I sold 15k out of that total 125k in Nov 2024.
Since this time frame overlaps both covered and non covered shares, I am unclear what I have to do to establish cost basis for the shares I sold.
My question is:
I received a 1099-B form from T. Rowe Price giving me a cost basis for the shares I sold: it was about 4500 for the 15,000 worth of shares sold. It said this figure was not being reported to the IRS
is this cost basis figure accurate? Does it take into account both the post 2012 and pre 2012 shares. And can I use this when I file taxes. I have not called T Rowe about this or asked whether this if FIFO or average cost.
Dividends and capital gains were reinvested each year I have owned this fund.
Do I have to go back through all records from 2007 to 2012 to figure out how much of the dividends and capital gains were reininvested to calculate the cost basis.
Or is the unreported figure that T Rowe Price has supplied (4500) more or less accurate? Is the cost basis that TR Price supplied accurate enough? And if not, what does the 4500 figure encompass? Everything from 2007-2024 or just for the period from 2012-2024?
I'm quite confused by all this.
Thank you for your patience in reading this.
