What is the System of Record for cost basis?

What is the System of Record for cost basis?

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...
Cost basis fails to reconcile after a sell

Cost basis fails to reconcile after a sell

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...
Cost Basis and Cash Invested explained

Cost Basis and Cash Invested explained

On most PortfolioCenter Holdings reports, you’ll find a column for Cost Basis and Cash invested. Sometimes the numbers are identical and sometimes they differ wildly.  Why? Cost Basis is the value of an asset for tax purposes.  It is the total price paid for an...
Bifurcation Handling in PortfolioCenter 5.5

Bifurcation Handling in PortfolioCenter 5.5

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...