Go to Jeff Salisbury LWGate Home Page.From: " " <ncbill@my-Deja.com>
Subject: capital gain (on sale) questions
Date: Sat, 29 Jan 2000 11:52:45 -0800
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Ok, I've invested for awhile, but 1999 was the first year I actually _sold_
anything - about $250,000 gross in 2 portfolios ($100,000 liquidated - one mutual fund, $150,000 from 3 brokerage mutual funds reinvested).
These funds are not my personal funds but some I just started managing for an invalid relative. The problem is their paperwork is not all it could be, so some (simple?) questions below:
1. 1099 forms - all they show is the gross amount sold. So I have to calculate the capital gains on the sale of the funds myself? (how does the IRS check?)
2. a. Any way to estimate, or do I need to go back and hand calculate - the $150,000 portfolio had an initial investments in 3 funds and monthly reinvestments for over 5 years!
(any ideas/way to estimate if I can't find one or more of those 60+ statements?)
b. The $100,000 is not as difficult - earnings were paid out, not reinvested, but it was bought over 10 years ago - anyone know where I can get fund quotes that far back - I can probably get to within one quarter of when it was originally bought.
Any help appreciated, especially any guidance on estimating if the paperwork can't be found. :(
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