<<Then again, I've had some mutual funds for nearly 30 years (part of company plan way back when). I have files 3 or 4 inches thick, with statements all the monthly extra shares I've bought along the way, and the cost. It would take a month of work to figure out the cost basis of all of my fund units!....(and the companies won't do that going back 30 years). Some do now - keep track of your cost basis. When you go to sell, you need to figure out your cost basis. Which is why some of these are never going to get sold!.....( I am taking the cap gains distributions in cash each year - slowly depleting this funds). >> I'd be tempted to do one of two things. If the basis is under ten percent of the sale price or so, just include the whole amount as a gain if it's too much of a pain in the neck to compute. The other alternative would be to close one eye and make a guesstimate on the basis. If the IRS asked for documentation, just hand them the four inch thick file with a smile! My own experience with having the IRS require me to document my rental expenses recently was that they accepted the report and documentation I supplied without disputing any of it. I'm embarrassed to say I got an additional $1100 or so back in refunds.Perhaps the Badger can suggest approaches to dealing with this kind of problem. Seattle Pioneer Seattle Pioneer
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. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra