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Mutual Funds Where do I enter it for IRS?


My grandmother long ago left me mutual funds which matured and I took it out in 2007. It was $2800 when I took it out and under my social security number now so i have to file it. My question is where do I file it in my Income Tax Return?

You will report the gain or loss of the sale on a Schedule D. You will need to know the fair market value of the investment on the day your grandmother died. The difference between that value and the $2800 will be your gain or loss. I would recommend seeing a tax professional to help you with the Schedule D. It can be quite a challenge.

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