New IRS Basis Reporting For Investors

This new regulation is not specific to covered call investors but will be of interest to investors of all types. Apparently congress thinks it’s a good idea to require broker-dealers to report adjusted tax basis to investors and the IRS (current rules only require the reporting of sales proceeds). Oct 12, 2010. Washington, DC The Internal Revenue Service today issued final regulations under a law change that will require reporting of basis and other information by stock brokers and mutual fund companies for most stock purchased in 2011 and all stock purchased in 2012 and later years. The reporting will be to investors and the IRS. This additional reporting will be optional for stock purchased prior to these dates. “This… . . . → Full Story: New IRS Basis Reporting For Investors