How Does the IRS Verify Cost Basis?

The IRS expects taxpayers to keep the original documentation for capital assets, such as real estate and investments. It uses these documents, along with third-party records, bank statements and published market data, to verify the cost basis of assets. This is an issue that will come up if the…#nonesmartasset #irsverifycostbasis #smartreads

Source: Reuters: Health - February 24, 2024 Category: Consumer Health News Source Type: news