Brokerages Must Report to IRS Cost Basis

December 21, 2010 by  

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…

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