Why did we start this website? To reduce "friction" in the free enterprise system!
What do we mean by "friction"? Things like:
Not being able to finish your tax return because you have to wait for the broker to give you information about corporate reorganizations.
Avoiding investments in stocks because you don't know how to account for them.
Increased CPA tax preparation fees because you don't have your cost basis information ready at tax time.
Investing in mutual funds that cost you 1.5% per year to avoid accounting for individual stocks and bonds.
For CPA's, being frustrated when you can't get the information you need about mergers and spinoffs to help your clients comply with tax reporting requirements but you can't afford to pay the high subscription fees for corporate reorganization reference services.
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Information provided is intended solely for cash-basis U.S. citizen individual taxpayers and is believed to be accurate for most cases but is not guaranteed. Always consult your personal tax advisor about your own situation. Suggestions are most welcome. Please email our webmaster @ costbasis.com with your comments. If this website has been helpful to you, please consider making a donation to support our efforts.