18 Jan Cost Basis: What's the Big Deal?
It’s a brand new year and The Emergency Economic Stabilization Act of October 2008 (the “Bailout Bill”) seems like a distant memory from a hazy and tumultuous past. However, the fallout from the bailout is still being felt, and the first date regarding changes to cost basis reporting (brokers and other financial intermediaries must report the cost basis on stock acquired by their clients on or after January 1, 2011) has passed with barely a blip.
As an investor, you might be saying, “So what? What is cost basis anyhow, and why should I be concerned?”