Posted by taxguru on December 23, 2010
Brokerages Will Have to Tell IRS What U.S. Investors Paid for Their Stock – This will actually be very helpful when preparing tax returns because getting those cost basis figures is often a pain in the butt. Of course, the stockbroker figures will most likely be wrong for inherited shares, which will need to have a basis adjustment as of the date of death of the previous owner.
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Tax Guru - Ker$tetter Letter 