If you keep cost basis in PortfolioCenter reconciled to your broker, February means income reclassifications. Due to complicated IRS rules and regulations, fund companies may need to adjust dividends already paid when they close their books at the … [Read more...]
Aloca (AA) spinoff Arconic (ARNC)
On November 1, 2016, Alcoa Inc became two companies. The original Arcon shares (AA) became Arconic Inc (ARNC). Then ARNC spun off a new company, Alcoa Corp (AA). Great news for investors, but a headache for PortfolioCenter users. Because the new … [Read more...]
8 Step PortfolioCenter Tune-up
Take advantage of the slower summer months to give your PortfolioCenter database a tune-up. Keeping the details streamlined not only makes your daily tasks more efficient, it reduces the likelihood of hitting speed bumps during the quarter-end … [Read more...]
Cost basis adjusted, now what?
You receive this message from your broker with a list of accounts, dates and dividends: "Cost Basis Adjusted. No Action Required. The following accounts' cost basis was adjusted due to an action such as return of capital." The notice may say "no … [Read more...]
Should I send realized gain/loss reports from PortfolioCenter?
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 … [Read more...]
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