You are viewing all posts by, Jodi Baskin

product manager, SunGard’s wealth management business

23
Mar
2012

Cost basis changes and the effect on investors and brokers in 2012

Contributor:

2011 proved to be a year of change in the world of trading stocks. With the changes implemented under the Economic Stabilization Act of 2008, beginning in 2011, firms are required to capture the costs associated with purchasing and liquidating stocks and to report those costs to the Internal Revenue Service on behalf of their investors. The 2011 tax reporting is now in full swing. This year and moving forward, the time for brokers to furnish statements on form 1099-B to their investors has been extended from January 31 to February 15. This presents quite a change to investors who in the past have seen only rolled up gross proceeds reported. Plus, the 1099-B has been expanded to include the cost basis of stock sold or exchanged during the year. Schedule D has also changed, and the addition of Form 8949 has been included. Form 8949 lists all capital gain and loss transactions, and then subtotals from this form are carried over to Schedule D where investors still report their gains and losses in aggregate.... read more

product manager, SunGard’s wealth management business

7
Jun
2010

Using cost basis activities to jumpstart business improvements

Contributor:

No matter where you are in your efforts to address mandatory cost basis reporting, it is likely you are acutely aware of all the network and data issues that need addressing in order to become compliant with the new rules under Section 403 of Division B of the Emergency Economic Stabilization Act of 2008, by January 1st of 2011. The need for compliance to regulations is driving you to maintain a focus on cost basis.While it may seem like just another compliance project for your organization to tackle, it actually presents you with opportunities to improve your business as a whole.... read more