Is using the IAS Website a good value?
A. Determining the cost basis of a security position can be very time consuming. First there is the research to uncover any cost basis events the impacted the position, and then the often grueling ‘paper and pencil’ work. The process can take anywhere from an hour to literally days to accomplish By contrast, using the IAS website can accomplish the same task in seconds. What is your time worth? Additionally, using the IAS Website can save tax dollars by making sure that any Events that increase the cost basis of the investment position are included, such as dividend reinvestments. The difficulty of accomplishing this through a manual process leads many to estimate conservatively, with the end result that more taxes are paid than are actually due.
