What cost basis and associated gain/loss information is reported to the IRS?
For tax years through 2010, cost basis information may be sent to clients, but has not been reported to the Internal Revenue Service (IRS). However, starting with the 2011 tax year, some cost basis information will be reportable to the client and to the IRS, as required by the Emergency Economic Stabilization Act of 2008.
Related Questions
- Will my capital gain/loss reported on the 2010 Average Cost Accounting Statement be the same on my state and local personal income tax return as it is on my federal personal income tax return?
- During 2010, I sold fund shares inherited from my parents. Will cost basis and gain/loss information from this sale be shown on my 2010 Average Cost Accounting Statement?
- What is the cost basis and the associated capital gain or loss on my mutual fund redemption?
