New Cost Basis Reporting Rules
| HelpRegister |
New Cost Basis Reporting Rules I hope by now that all of you are aware that there are new cost basis reporting rules. We did a presentation about it in November: Cost Basis Reporting Changes We've been interacting with various brokers for various reasons related to the changes. I have to say that Charles Schwab is doing an amazing job of gearing up for the changes and all the questions people might have. Here is a very interesting short interview with the head of their Cost Basis Reporting Group. It gives you a very good, brief overview on what is happening and what you need to know. Confusion About Reporting Capital Gains One of the most important things we recommend you do is to set things up correctly with your broker to help keep your club record keeping as simple as possible. If you own mutual funds or ETF's make sure you go to your brokerage website as soon as possible and change the default cost basis reporting method for them from average cost to First In First Out.. -- Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio Sorry everyone, the link to the Schwab interview in the first email was broken. Here's the live link. Confusion Over Reporting Capital Gains -- Laurie Frederiksen Invest with your friends! www.bivio.com Become our Facebook friend! www.facebook.com/bivio Follow us on twitter! www.twitter.com/bivio |
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