How do I figure out a mutual fund cost basis for my tax return?
March 3, 2012 5:48 PM Subscribe
How do I figure out a mutual fund cost basis for tax purposes?
posted by zembla3 to Work & Money (5 answers total) 3 users marked this as a favorite
I'm trying to use TurboTax for my 2011 tax return. I sold some shares of a Vanguard mutual fund and imported the 1099-B and 1099-DIV into TurboTax. However, Vanguard does not allow cost basis information to be imported to TurboTax, so I have to enter that information manually. Which column on the 1099 shows me the cost basis? For example, for shares sold on Jan. 3, 2011, Vanguard lists $1,000 under "Proceeds," $960.49 under "Total Cost," $39.51 under "Gain/Loss", and $39.51 under "Total Gain/Allowable Loss". Is the $960.49 under "Total Cost" what I would enter for the cost basis in TurboTax?