Monday, January 9, 2012

Reporting on Stock Sales

For the first time, brokers will be required to report the customer's adjusted basis in stocks and bonds purchased after 2010 and whether or not the gain or loss is short-term or long-term for security sales. Before they only had to report the gross proceeds of the sales. This requirement doesn't cover mutual funds and stock acquired through reinvestment plans until after 2011.

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