Delawaredave
Recycles dryer sheets
- Joined
- Apr 9, 2005
- Messages
- 184
What justifications are needed for cost basis of an investment ?
If you buy a stock or mutual fund 10 years ago - what documentation should you have for your taxes ? Original purchase confirmation letter ? What if that is not available ?
Is the cost basis stated with Vanguard or Fidelity acceptable ? I moved some stocks/funds between investment houses - I think the asset value transfers - but the cost basis did not transfer ?
Thought I read somewhere that your "audit window" is 7 years - so income/deduction documentation should be kept that long. But investment purchase confirmations should be kept as long as you hold the investment - correct ?
If you buy a stock or mutual fund 10 years ago - what documentation should you have for your taxes ? Original purchase confirmation letter ? What if that is not available ?
Is the cost basis stated with Vanguard or Fidelity acceptable ? I moved some stocks/funds between investment houses - I think the asset value transfers - but the cost basis did not transfer ?
Thought I read somewhere that your "audit window" is 7 years - so income/deduction documentation should be kept that long. But investment purchase confirmations should be kept as long as you hold the investment - correct ?