How to Report Mutual Funds
- 1). Keep all copies of your mutual fund transactions. Store them in a safe spot, such as a safe deposit box or file cabinet.
- 2). Obtain a copy of any tax information, including dividends, regarding your mutual fund. Call the company if it does not send you this information by the end of January each year.
- 3). Research the IRS.gov website. Know which forms you need to file, whether it is the 1040 or the 1040A. Acquire the correct paperwork for your mutual fund situation.
- 4). Make a copy of your return. Fill in your initial calculations on this "dummy" version. Keep the original to mail to the Internal Revenue Service before or on April 15 of each year.
- 5). Seek the advice of an accountant. He can better help you with the final copy, catching numerical errors you may have made on your rough draft.
Source...