Figuring Cost Basis on funds that have been merged/bought out.

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Housedoc
Posts: 142
Joined: Thu May 24, 2018 4:25 pm
Location: Alabama

Figuring Cost Basis on funds that have been merged/bought out.

Post by Housedoc » Mon Jun 25, 2018 3:18 pm

1st let me say I am falling on my sword here. Between a few moves, raising 2 sons, working, etc I have lost track of 2 MF I hold.
They were old funds that were bought and sold over many times. Current fund symbols are NMSCX and SENCX.
When I view them on VG where they are held now I show:
NMSCX a tad over 10,000 shares. 8300 Non Covered, 1751 Covered @ 20.17 a share.
SENCX total is 920 shares, 540 Non Covered, 380 covered @ 47.14
I started investing for kids college in the late 90s in these funds and quit purchasing in 2005 when state came out with a prepaid college fund. I left them alone, reinvesting cap gains and dividends. Any ideas on figuring cost basis for non covered shares bought over many years would be appreciated. SWAG method is alternative to use should I sell in the future. SENCX prob 1st to go, performance not too good, 1pct expense ratio. My definition of SWAG is Sophisticated Wild ASS Guess per an accountant I knew.

PFInterest
Posts: 2266
Joined: Sun Jan 08, 2017 12:25 pm

Re: Figuring Cost Basis on funds that have been merged/bought out.

Post by PFInterest » Tue Aug 28, 2018 8:58 am

if vanguard is holding them i think they just report the average cost basis. otherwise no, its up to you.

HerbsKid
Posts: 7
Joined: Sun Jul 29, 2018 12:54 pm

Re: Figuring Cost Basis on funds that have been merged/bought out.

Post by HerbsKid » Wed Aug 29, 2018 2:58 am

What you're trying to demonstrate is how much you spent buying non-covered shares.
Do you have old tax-return files with year-end 1099's for these funds? Old year-end statements?
If not, you might have to guesstimate how much you bought based on systematic investments from years ago and cross your fingers that the IRS doesn't ask too many questions.

I am facing a similar problem with a real turkey of fund that is a chronic under-performer that I originally bought over 20 years ago.
After going through old boxes / statements / 1099's, I am satisfied that I can account for all my purchases, but it was very tedious.

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