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Adjusted Cost Basis (ACB) on form 1099-B?...Conclusion

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    Adjusted Cost Basis (ACB) on form 1099-B?...Conclusion

    Yes the Reg Rep who sold this investment did not have a clue what this ACB was and called his tax dept. One section of the tax document has the transactions of the mutual funds itemized out individually, you know columns for: gross proceeds, cost basis then this column I saw for the first time, ACB then gain or loss column. This particular document has 30 transactions and 28 of the transactions do not have an amt in the ACB column, 2 transaction do. The gain or loss under the ACB in one of those 2 transactions were calculated by: Gross proceeds $8445 minus ACB $8106 = $339 which is the amt that appears under the "gain or loss" column.

    Bottom line, dont always look at the bottom line : )
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