Tax Basis

[ozarkcarl]

The current value and tax basis of my cash account are different. The current value is correct. How do I correct the tax basis.

[Mark]

Hi ozarkcarl,

The tax basis is calculated from your purchase prices, plus any Return of Capital (and optionally Account Fee) distributions. Check that all your transactions happened at a price of $1, and had no commission. Also, see if you have any Return of Capital or Account Fee type distributions. If you don't want Account Fees to adjust your basis, turn off "Options / Report Preferences... / Capital Gains / Include Account Fees in Basis".