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Question

I sold mutual fund shrs, purchased on different dates and at different prices. Do I have to submit supporting documentation to show cost basis to the IRS or N J Revenue?

Forum|Forum|1 year ago
February 12, 2025
1 reply
0 views

I made a similar sale in 2023 and was instructed, by TurboTax, to submit supporting documentation for my cost basis. This year, 2024, no such instructions.

Employee

You don't need to prove cost basis unless you are audited.

That is also true for 2023 and earlier years.

mrzip1Author

Thank you for the quick response. I probably went through the same anxiety the last time and misread the instructions. I see now that the instructions were referencing FORM 8949. I printed out the Cap Gains report from quicken and assumed that I included it

Thanks, again