Form 1099-B reports the sale of mutual fund shares and related cost basis information. In most cases, you are required to use the information on this form to determine your gain or loss on the sale of your mutual fund shares. Please note that Thrivent Mutual Funds does not report average cost basis information for non-covered shares to the IRS.
Who will receive it
Shareholders who sold, exchanged or redeemed shares in a nonretirement account.
When it will be mailed
Thrivent Mutual Funds target mail date is January 31 and mid-to-late February for Thrivent mutual funds that invest in REITs (real estate investment trusts): Thrivent Diversified Income Plus Fund and Thrivent Multidimensional Income Fund.
What information is included
Redemption transaction information including systematic withdrawals and exchanges; redemption trade date and redemption amount; federal income tax withheld and cost basis information.
Cost Basis Method and Gain/(Loss)
The Cost Basis Method and Gain/(Loss) columns on Form 1099-B are not reported to the IRS and are included for your information only. The Cost Basis Method column indicates the method used to calculate cost basis. The Gain/(Loss) column contains the gain or loss amount for the any wash sales or sales load basis deferral adjustments occurring within the same account. There may be other adjustments that you will need to make to the cost basis for activity between different accounts. See your tax advisor for more information.
How to use it
Calculate capital gains or losses on IRS Form 8949 and Schedule D.
Refer to IRS Form 8949 Instructions, IRS Publication 551 and IRS Publication 550 for more information.
The information provided is not intended as a source for tax, legal or accounting advice. Please consult with a legal and/or tax professional for specific information regarding your individual situation.