I sold some investments last year to make the downpayment for a new house. I’m now working on putting the 1099 form info into Turbo Tax.
On the 1099 I received from Wells Fargo Securities, I have some info for one transaction listed as a short term gain/loss to be reported on Form 8949 with Box A checked, and a couple of transactions listed as long term gains/losses to be reported on Form 8949 with Box E checked.
What has me scratching my head is a couple of transactions labelled “Unknown term gains or losses - Basis not reported to the IRS. Report on Form 8949 with Box B or E checked as applicable.” They list the info that the sale was made on 1/22/13, and gives the number of shares sold, and the sales price. It also reports that the purchase date for the funds was 2/15/01, but for box 3, where they were supposed to report the original purchase cost, it just puts N/A.
What am I supposed to do with this? I don’t think I have my statement from 13 years ago when I made the purchase to find the purchase price. I thought my brokerage was going to be tracking this information. They did report the basis price on some of the other purchases that were made on 2/15/01.
Anyone with any experience with this, or suggestions? I’ll try to talk to my advisor next week, but he’s a relatively new advisor for me, and I haven’t been very impressed. Also, this purchase was made 2 brokerages ago. The original purchase was made by IJL Wachovia, that later became Wachovia Securities, that later became Wells Fargo Securities.
Incidentally, Turbo Tax doesn’t like it. It doesn’t find N/A or leaving box 3 empty to be acceptable solutions.