Absolutely not true for mutual funds. Fidelity (and many other brokers) default to average cost basis for mutual funds, and only use actual cost basis for stock...
Thanks, this is very helpful. We’ll find a tax advisor to discuss our options. Why actual cost basis isn’t the default for mutual funds is beyond me. It’s not a...
Any update on this? I’m in a very similar situation this year where Fidelity is reporting average cost basis which produces an extra $6800 in tax liability. The...