Can I import cost basis information from a sale of securities into a TurboTax return?
The cost basis reported on the Supplemental Realized Capital Gains/Losses statement associated with some sales of securities is available to import into your TurboTax return. Please note: • The information held in our records may not reflect all basis adjustments that would be necessary for calculations of the basis of securities that are sold. • Adjustments related to wash sales, cash transactions associated with corporate actions, such as mergers or spin offs; unit investment trusts, and widely held fixed investment trusts and other activity may not reflect accurate cost basis. Please also be aware that if you have received your shares from someone else such as through a gift, inheritance or divorce, the cost basis has not been adjusted and will need to be manually adjusted. • It is important that you verify data using your records when calculating gains or losses for tax reporting purposes. To adjust the information, you will need to edit the imported information. • We do not report
Related Questions
- I have used the FIFO method to determine the cost basis for a sale of a portion of a mutual fund holding. Must I continue to use this method for all future sales of this fund?
- If I use the average cost method for computing basis of mutual fund shares upon sale, how do I determine the holding period for those shares?
- Why doesnt the Total Account Cost Basis on MS Money match the Securities Total on WebBroker?
