by Krisan Marotta | Aug 22, 2014 | Performance
Q. I’m confused about how the taxable flag should be set for the various fixed income securities. Everything seems to come in marked as taxable. Can you help? A.For most brokers new fixed income securities default to state taxable “yes” and federal...
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 | Feb 25, 2014 | Reporting
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...
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...
by Krisan Marotta | Sep 14, 2013 | Cost Basis
Schwab Advisors: Have you requested that Schwab turn on the Original Issue Discount (OID) section of the 1099? This can be accomplished by filling out the “Cost Basis Enrollment and Preferences Form” and checking “Adjusted Cost for Fixed...
