Basis Reporting
Your broker statement for 2011 reported the basis in stocks you acquired last year. This basis reporting requirement expands this year to include mutual funds shares and stock acquired in a dividend reinvestment plan. The cost basis for these investments is included in reports that brokers send to the IRS. The IRS will compare this information with the basis you report on your tax return when you sell the investment.
Related articles
- What Mutual Fund Investors Need To Know About The New 2012 Tax Rules (forbes.com)
- Welcome 2012: Time to pay heed to your cost basis. (oregonlive.com)
- Get Ready for New 2012 Investment Tax Rules (money.usnews.com)
- Newly Revised Form 1099-b Should Simplify Your Capital Gain Calculations (schwartzcpas.wordpress.com)
