Can you guess at the date acquired when you have had a mutual fund for 20 years and gradually added to it?

    There's really no need to guess.  Basically all shares held for a year or more are long term, so if you are selling a big block of stock comprising many purchases all over a year old at the time of sale you can just enter the word "various" in the date acquired field.  When TurboTax reviews the sale it will ask if the holding period was long term or short term and you simply answer "long term".

    Tom Young
    • Thanks
    • In the situation described above, what is the cost or other basis? TruboTax is saying this is missing info.
    • While there's no need to input every purchase date in a sale of numerous lots as long as you can accurately divide the lots into long term and short term portions, there's no similar "hand waving" action available on the basis issue.  It comes from your records,  or you record $0.

      Tom Young
    • thanks
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