What is Cost Basis?

What is 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...
Cost basis updated on sold shares?

Cost basis updated on sold shares?

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)...
PortfolioCenter Reports Gain/loss Mismatch

PortfolioCenter Reports Gain/loss Mismatch

Q. Why is the gain/loss on my PortfolioCenter performance reports different than the gain/loss on the PortfolioCenter tax reports? A. Comparing the gain/loss on performance reports to the gain/loss on realized gain/loss reports is comparing apples and oranges.  The...
Should I send realized gain/loss reports from PortfolioCenter?

Cost Basis in PortfolioCenter Summary

Thanks to increased federal regulations, many custodians are providing cost basis information in the files downloaded to PortfolioCenter.   But how do you know if you need to keep both systems up to date?  And what decisions do you need to make to get started?...