Changes to Cost Basis Reporting on Investments in 2012 and Beyond
Starting this year there is a big change in regards to cost basis reporting for investments. Because of the Energy Improvement and Extension Act of 2008, brokers (Scottrade, Sharebuilder, ect) are now required to file adjusted cost basis on any security that you sold in 2011. This is reported on IRS Form 1099-B. For those…