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Posts Tagged ‘cost basis’

I would like to know if I need to keep bank and mutual Fund statements?

August 13th, 2010

I have kept bank and mutual fund statements for years. I would like to throw them away if not needed. I have some mutual funds I purchased 15 years ago with dividand invested. In order to calculate the cost basis of the fund when I sell the shares, I think I need to keep records of the cost of share when the dividend was used to purchase additional share. Many of the large Mutual Fund companies have started capturing the cost basis for shareholders in the last 10 years so they calculate the cost basis for you. Some of the smaller mutual funds companies do not have this type of service. Any advice is helpful.

For the bank statement, after I reconcile the checks, do I need to keep them for any reasons?

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Technorati Tags: 10 years, checks, cost basis, dividend, mutual fund companies, mutual fund statements, mutual funds companies, shareholders

Posted in Top Rated Mutual Funds |

Tags: 10 years, checks, cost basis, dividend, mutual fund companies, mutual fund statements, mutual funds companies, shareholders |

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What information does my accountant need for stock sales?

July 11th, 2010

I need to get info to my accountant about my stock sales this past year for personal income tax purposes. I keep a spreadsheet of the stock, date purchased & # of shares, date sold & # of shares, price of stock at time of purchase, and price of stock at time of sale. I’ve also calculated cost basis. But my accountant doesn’t need all these numbers do they? What information should I give them?

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Technorati Tags: accountant, amp, cost basis, income tax purposes, personal income tax, spreadsheet, stock sales

Posted in Online Stock Investment |

Tags: accountant, amp, cost basis, income tax purposes, personal income tax, spreadsheet, stock sales |

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How to handle the tax for a stock I own?

May 31st, 2010

In 2007 a stock I owned was acquired for a combination of stock and cash. The cash was less than 50% of the transaction. I don’t believe I get taxed on the stock, but what is my tax basis for the cash portion of the transaction and what is my new cost basis for the stock that I now own as part of the deal? Thanks.

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Technorati Tags: cash portion, cost basis, stock, tax basis

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How do I get the cost basis for mutual fund sale?

May 28th, 2010

I closed a mutual fund last year but all the 1099-B reports is the $ amount I received and the number of shares. Turbotax wants to know the cost basis to determine profit/loss. I had the acct over 10 years – how am I supposed to know this?

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Technorati Tags: 10 years, acct, cost basis, mutual fund, profit loss

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How do I figure the cost basis on an inherited mutual fund?

May 16th, 2010

I inherited a mutual fund in 2006 as a "transfer upon death," and redeemed most of what was left in 2009. How can I figure the cost basis for tax purposes?
Thanks for all the information, everyone.

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Technorati Tags: cost basis, mutual fund, tax purposes

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Tags: cost basis, mutual fund, tax purposes |

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