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question on reporting MF sales on tax return
Old 04-13-2019, 11:34 AM   #1
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question on reporting MF sales on tax return

sold some MF for the first time in 2018. Just wondering if I'm reporting it correctly (using HR Block ), particularly should I check box 2 (Ordinary) and and box 3 (report basis to IRS). pls see attached.

shares have been acquired on various dates, gain is LT.

Also, there's another LT transaction but the 1099-B description says "the basis is not reported IRS", do I just leave box 3 unchecked then?
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Old 04-13-2019, 11:41 AM   #2
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I wouldn't think Ordinary would be checked because that looks like it would be taxed at ordinary income rate, and you said you'd held them long term.

For box 3, mutual fund companies started reporting cost basis to the IRS starting with shares purchased 1/1/2012 and later. For earlier shares they are not reported. So it depends on your purchase date. If you have a mix of before and after, you need to separate them and report them in two sets.
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Old 04-13-2019, 12:27 PM   #3
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You should simply copy whatever's on the 1099 into the appropriate fields. It just wants you to enter the data. Or are you saying the 1099 doesn't specify?

Or better yet, if possible, download (import) the 1099 directly from you financial institution.
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