G2 FinTech has introduced TaxGopher+ cost basis reporting software for filling out the Form 1099-B.
The Emergency Economic Stabilization Act of 2008, passed in the wake of the financial crisis, included a provision requiring brokers and other investment managers to track and report the cost basis of investments on Form 1099-B. The requirements were phased in gradually, starting with stocks acquired on or after Jan. 1, 2011, mutual funds on or after Jan. 1, 2012, and bonds, options and other investments on or after Jan. 1, 2013. TaxGopher+ addresses all three roll-out phases of the 1099-B CBR rules, notably fixed-income and options, the final set of covered securities to take effect on Jan. 1, 2014.
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