Skip to main content

Looking to Learn More? Sign up for our Investing Insights newsletter. Subscribe

Thanks for Signing Up!

Be sure to check your inbox for the Investing Insights newsletter to get the latest news and insights from Thrivent Mutual Funds.

Well that's unexpected - your subscription request was not submitted. Please try again.

Great news - you're on the list!

Looks like you're already on our mailing list. Be sure to check your inbox for the Investing Insights newsletter to get the latest news and insights from Thrivent Mutual Funds.

Tax Resource Center

Cost Basis Reporting Tax FAQs

If you are looking for general cost basis information, visit the general cost basis FAQ page.

 

Am I required to use the cost basis information provided by Thrivent Mutual Funds on my tax returns?

If the cost basis information is for covered shares you are required to use when determining your capital gains or losses. Covered shares for mutual funds are those shares purchased or acquired on or after January 1, 2012. You (and the IRS) will receive cost basis information for all of your covered shares on IRS Form 1099-B. You should always use IRS Form 1099-B to complete your tax return for covered shares. Note that information from other sources can affect cost basis, due to adjustments that may occur from other activity in your account.

When available, you may receive cost basis information, either on IRS Form 1099-B or a separate cost basis statement, for non-covered shares purchased prior to the effective date. Cost basis information on non-covered shares will not be provided to the IRS. you can choose to use cost basis information provided on non-covered shares or calculate your cost basis on your own.

How is cost basis used to calculate the gains and losses shown on my Form 1099-B?

The gain or loss shown on your Form 1099-B is the difference between the amount for which the shares were sold and the cost basis of your shares using the elected accounting method.

How does the holding period of the shares I sold affect my taxes?

Holding periods affect the rate at which you are taxed. The holding period is based on the length of time you owned the shares you sold.

  • Short-term (one year or less): Gains are taxed at your ordinary income tax rate.
  • Long-term (more than one year): Gains are taxed at the applicable capital gains rate depending on your tax bracket.

 

 


At Thrivent Mutual Funds, we recommend you consult your tax advisor to make sure you’re getting the most out of your investments. Thrivent Mutual Funds and their representatives cannot provide legal or tax advice.