online Your Potential: H&R Block 1, 12:45 PM Realize Your Potential: H&R Bloc Question 24 of 40. All of the following statements regarding the basis of mutual fund shares are true EXCEPT? Basis of mutual fund shares can be determined in the same manner as for other securities. Basis of mutual fund shares can be determined using the average cost method. Taxpayers can specifically identify the shares they want to sell only if they have not previously used the average Taxpayers may not use the average basis method if they previously elected to reinvest dividends. O Mark for follow up