CostBasis What you need to know02 2013V2.0
Cost Basis:
What you need to know
Fidelity Brokerage Services, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917. ? 2012 FMR LLC. All rights reserved.
639524.2.0
Welcome
Today's Agenda
? Cost basis reporting ? Overview and 2014 requirements ? Review: Bifurcation of securities eligible for average cost ? Locating cost basis information on ? Review Fidelity's 2012 Tax Reporting Statement ? Q&A
1
Today's panelists
Fidelity specialists
? Ellen Bocina, Vice President, Product Development ? Jeff Brown, Vice President, Product Development ? Carlos Cartaya, Vice President, Tax Services
2
Cost basis reporting
Overview and 2014 requirements
3
Recap of the reporting requirements
Broker-dealers, including mutual fund companies, must:
? Report adjusted cost basis on the IRS Form 1099-B for the sale of covered securities and indicate whether the holding period for these securities was long- or short-term
? Provide cost basis on the transfer of positions to another broker
Covered securities and cost basis implementation schedule*
2011
Stock in a corporation, purchased on or after January 1, 2011
2012
Securities eligible for average cost (mutual funds and DRIP), purchased on or after January 1, 2012
2014 & beyond
Options, fixed income, and other securities as determined by the IRS, purchased on or after January 1, 2014
* Based on final regulations issued in October 2010
4
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