Lorenzo
Recycles dryer sheets
I have a tax question, as I'm trying to identify assets that I might sell to finance replacing my 22 year-old vehicle. A long time ago I bought a tax-exempt muni bond, and the broker set me up with a mutual fund to receive the interest. Eventually the bond was called, and since I had no other investments with that particular brokerage I transferred the mutual fund, now including the proceeds from the bond call, to the brokerage where I had most of my other accounts, Schwab. That was well over 10 years ago, and of course the mutual fund has continued to appreciate, but still what I'd call an underperformer, so my thinking is it may be a good target for liquidation. What is my basis if I were to sell that fund? Is it the value of the account at the time the bond was called and I transferred the fund? I think that's what Schwab lists as the basis. Thanks.