Brokerages Must Report to IRS Cost Basis

Brokerages Must Report to IRS Cost Basis

Investors who forget what they paid for shares of stock will get help starting next year, courtesy of the Internal Revenue Service.

That’s when the U.S. tax-collection agency will require brokerages to track the cost basis on equities bought after Jan. 1, and send taxpayers and the government an annual form recording it when investors sell shares…

For this entire article please visit the following link:
http://finance.yahoo.com/news/Brokerages-Will-Have-to-Tell-bloomberg-3508989938.html?x=0&sec=topStories&pos=9&asset=&ccode=

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