[[I have 2 mutual funds which Istarted to fund in 1987 ..I haven't bought any more shares in the fund for the last two years....when I sell it, will the company figure my cost basis or do I have to go through every statement and figure it out? It would be a lot of work since I invested almost monthly for years...the funds are American century Ultra and Growth.....thanks, debbie]]While many funds DO provide you with a "cost basis" report when part (or all) of the fund is liquidated, some still do not. You'll have to call the fund and find out if they do or do not.If they do not, the computation of the basis will be your responsibility. Difficult or not. For additional information on the taxation of mutual funds, see IRS Publication 564.TMF TaxesRoySPECIAL NOTE: I try to answer as many questions as I can each week, and I generally select those that have not been asked before. If you don't get a detailed answer to your question, it is probably because my time is so limited during tax season, or because it has already been asked and answered in this folder in the past, or because it has been discussed in the Taxes Frequently Asked Questions area. In order to visit the Taxes FAQ area, go to the Fool's School area (http://www.fool.com/school.htm) and check out "Other Features" in the list box, OR you can jump directly to the Taxes FAQ area (http://www.fool.com/school/taxes/taxes.htm). Additionally, if any references were made to the IRS Web Site, you can get there by pointing your web browser to (http://www.irs.ustreas.gov)
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. M