Cost Basis Reporting

When you sell stocks, you have capital gains and losses to report on your investment club taxes. The amount of the gain or loss is the difference between your adjusted cost basis and the net proceeds from your sale. It is important to understand what needs to be reported on your investment club taxes and how to verify that it is correct.

The links below provide you with information that will help you learn more about this topic.

History And Overview
What does cost basis reporting mean? When did the new reporting laws begin?
Terminology
What is adjusted cost basis? What is net proceeds? What are covered securities? These and other terms you will find on your brokers tax documents are described here.