by Krisan Marotta | Nov 27, 2012 | Cost Basis, KBO
Thanks to the Emergency Economic Stabilization Act of 2008, custodians and broker-dealers are required to report the adjusted cost basis of sold securities to the IRS and taxpayers on Form 1099-B — including whether the gain/loss is short or long term....
by Krisan Marotta | Sep 18, 2012 | Cost Basis, KBO
What do you do if cost basis in PortfolioCenter reconciled with your broker yesterday but fails to reconcile today? Is your broker Schwab? Is the only new trade a charitable gift (i.e. a transfer of a security)? Do you use Lowest Cost for charitable gifting, but...
by Krisan Marotta | Jul 6, 2012 | Cost Basis, KBO
System of Record (SOR) became a necessary part of our cost basis terminology in 2008 when Congress passed the “Emergency Economic Stabilization Act.” The System of Record is the official record for tax purposes and the system responsible for providing the...
by Krisan Marotta | Jun 25, 2012 | Cost Basis, KBO
What do you do if cost basis in PortfolioCenter reconciled with your broker yesterday but fails to reconcile today? I recently encountered a position with relatively few trade lots (4 lots: 1 buy and 3 reinvested dividends). The cost basis reconciled to the penny and...
by Krisan Marotta | Jun 18, 2012 | Cost Basis, KBO
If you think the cost basis enhancements in PortfolioCenter 5.5 sound too good to be true, you’re right. Postpone the celebration. By my reading, the announcement promises more than the enhancements deliver. The announcement for enhancements to PortfolioCenter...
by Krisan Marotta | May 29, 2012 | Cost Basis, KBO
PortfolioCenter 5.5 makes it easier to manage bifurcated average cost positions. On the Matching Method tab of the portfolio details, you’ll find a new Bifurcation Handling check box. By default, this box is checked and set to bifurcate lots acquired before...
