by Krisan Marotta | Dec 1, 2015 | Cost Basis
Since the 2008 legislation for cost basis reporting, many investment managers are considering no longer sending tax reports from PortfolioCenter to their clients. Since managers are NOT required to track cost basis under the new regulations, how do you decide whether...
by Krisan Marotta | Dec 14, 2014 | Cost Basis
Most brokers download the correct income type into PortfolioCenter; normally, you should not need to change the income type. Here’s a simplified definition of the income types you typically see with equity and mutual fund positions. Dividend: This is the most...
by Krisan Marotta | Jul 28, 2014 | Cost Basis
The “final” Internal Revenue Service (IRS) regulations on cost basis reporting for fixed income securities and options securities are phasing in between now and 2016. Here’s the bottom line: It’s going to be MORE difficult to keep cost basis...
by Krisan Marotta | Jun 27, 2014 | Cost Basis
Since the increased federal regulation of 2008, PortfolioCenter users spend more time tracking and reconciling cost basis. If you are new to PortfolioCenter and confused about the terms, here’s a refresher course. The Internal Revenue Service not only requires...
by Krisan Marotta | Jun 3, 2014 | Cost Basis
Q.This week my client corrected the cost basis information for some mutual fund shares which were sold in her accounts during the last tax year. Will PortfolioCenter automatically receive the updated cost basis information (for shares which have already been sold)...
by Krisan Marotta | Dec 5, 2013 | Cost Basis
A “wash sale” occurs when you sell a position at a loss within 30 days of its original purchase or you buy the same position back within thirty days of the sell. According to Investopedia: The Wash-Sale rule was established to disallow a loss deduction...
