I am not a tax attorney, and even if I were, I'm not your tax attorney, whomever you might be.
With that out of the way, it is my understanding that it is the taxpayer who is legally responsible to maintain the records, including the cost basis of sold assets. The usual problem is that a taxpayer does not keep good records. By "does not keep good records," the good is often not necessary. Then the taxpayer is required to reconstruct as best possible the records, and that's usually requires significant resources. If a taxpayer keeps excellent records, then very often the IRS will accept such. This is not to suggest that excellent records results in all taxes paid, as there could be some structural taxation issue. Whatever the situation, I keep my records, and I also keep all statements I receive, including any that suggest "what's what." > On 06/04/2026 10:48 AM PDT David T. via gnucash-user > <[email protected]> wrote: > > > When it comes time to receive distributions, I'm pretty sure the financial > institution will let you know what's what. Aside from the satisfaction of > being able to say "I tracked it right," I'm not sure there's much point. _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
