Checking Cost Basis

When you sell a stock, brokers are required to report your cost basis and capital gains to the IRS. Your club tax return needs to agree with this information.

This video shows you how to do simple checks when you have sales during the year to make sure what bivio will be reporting on your taxes agrees with what your broker will be reporting to the IRS.

Discrepancies can be time consuming to work through. Addressing any issues during the year rather than waiting for tax season will greatly simplify and speed up your club's tax reporting process.