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Financial Planning / Tax Strategies


Subject:  Re: Mutual Funds, Capital Gains - I'm lost Date:  7/14/1999  10:33 AM
Author:  jwshuler Number:  17298 of 127549

"So my question is - can and will the mutual fund
companies provide the information necessary
in calculating my gain/loss in order for me
to determine the taxes I will owe? "

I've been dealing with this same problem recently. My husband had several mutual funds that were opened for him by generous family members. We had little to no paper work on them, so no way to calculate cost basis. We want to liquidate all the fund this year and move into stocks.
I had my husband call the brokerages that were handling the funds. He told them the situation we were in and requested all the year end statements since the funds were open. The year end statements list all buys, sells, dividends, gain distributions. The brokerages were happy to oblige. One even offered to calculate the cost basis for us.
As for organizing all the info once you have it, I recommend Quicken 99. I've entered all the info from the year end statements. Quicken calculates cost basis for you, and now we know exactly how much gain we will realize when we sell the funds. There are other programs like Quicken available as well.
Good luck!

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