by Krisan Marotta | May 30, 2012 | Reporting
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...
by Krisan Marotta | Feb 18, 2012 | Cost Basis
When the cost basis reconciliation tools became available with PortfolioCenter 5.2, we began learning how difficult it is to keep the cost basis in the PortfolioCenter software in sync with the broker’s cost basis. Maintaining cost basis in both systems...
by Krisan Marotta | Feb 13, 2012 | Cost Basis
Tracking cost basis in PortfolioCenter software is an increasingly time-consuming proposition. As brokers provide more accurate cost basis numbers through their downloads, we are seeing with increasing clarity how difficult it is to maintain a duplicate system in...
by Krisan Marotta | Dec 29, 2011 | Cost Basis
If you sell a position at a loss and purchase that position again 30 days before or 30 days after the sell, the IRS considers this a “wash sale” and the investor is not allowed to take the realized loss. To maintain accurate cost basis in Schwab’s...
by Krisan Marotta | Dec 27, 2011 | Cost Basis
With the new IRS tax reporting regulations, average cost positions will be bifurcated. Thanks to government regulation, covered and uncovered shares will now maintain a separate average unit cost which require manual data entry in PortfolioCenter to maintain accurate...
