Capital Gains/ lots matching

Cherilyn J. Peay on

I'm sure that someone has the answer to this.
We have account sync with Bivio and sales were recorded automatically.
The amount received (proceeds) and the number of shares sold are correct.

My question.
The realized gain or (Loss) for these sales in Bivio doesn't match my
brokerage gain/loss report.
What's more is that I can't tell what lots were sold via the
brokerage statement. It just says "multiple".

Is this something that is critical and needs to be corrected?

Thanks for you assistance.

Cherilyn J. Peay

iras1 on

Brokerage capital gains reports are unreliable as the broker isn't required to maintain cost basis records. They are provided to you for your convenience and not provided to the IRS. Your records determine what should be reported. This will change in the future as brokers will be required to maintain cost basis data for purchases made in 2011 and later.

Ira Smilovitz

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In a message dated 03/06/11 16:47:30 Eastern Standard Time, cpeay@comcast.net writes:

I'm sure that someone has the answer to this.
We have account sync with Bivio and sales were recorded automatically.
The amount received (proceeds) and the number of shares sold are correct.

My question.
The realized gain or (Loss) for these sales in Bivio doesn't match my
brokerage gain/loss report.
What's more is that I can't tell what lots were sold via the
brokerage statement. It just says "multiple".

Is this something that is critical and needs to be corrected?

Thanks for you assistance.

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