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April 13, 2022
Question

How to enter 1099-B forms created for $25 fee by mutual fund (they sold to cover their yearly fee)?like the 'Sales Section' 'How did you receive this investment'

  • April 13, 2022
  • 1 reply
  • 0 views
So my mutual fund auto-sold a fraction of a share to cover their yearly $25 maintenance fee. which shows up as a $25 1099-B.
How do i report this in TurboTax?

it asks in a dropdown 'Sales Section':
*Long-term basis reported to IRS (covered)
*Long-term basis not reported to IRS (noncovered)
*Short-term basis reported to IRS (covered)
*Short-term basis not reported to IRS (noncovered)
*etc.
What should i put here?

Also for:
"How did you receive this investment?" I purchased it, inherited it?
What should i put here? I guess 10 years ago i bought shares of this mutual fund so i put 'I purchased it'?

Thanks!

1 reply

Employee
April 13, 2022

Yes, you purchased it. Your 1099-B will tell you the answers to your other questions.