COST-BASIS REPORTING, FORM 8949 & 1099-Bs
If you trade or invest in securities, you need to learn about “cost-basis reporting,” a new set of IRS rules for taxpayers starting with 2011 tax filings. Previously, taxpayers could simply enter their capital gains and losses (proceeds, cost basis and holding period) onto Schedule D of their individual income tax return. That’s no longer allowed, so 2011 and 2012 tax returns are proving to be a challenge.
GreenTraderTax.com covers cost-basis reporting in-depth. Rather than duplicate that content on this site, please visit the Cost-Basis Reporting section of the GreenTraderTax.com site. There are blogs, Webinars, software, media interviews with Green (WSJ and Barron's) and more.