Posted by soonerlew:
Re: The Weekly Buzz 01/03
« Reply #24 Today at 12:39am »
Re: The Buzz Chat 01/03
« Reply #192 Today at 8:48pm »
Has Transfer Online always said this when checking your account?
Tax Lot Shares Original Acquistion Date Total Cost Basis Additional Information
Certificate is Uncovered
Uncovered refers to any stock issued prior to January 1, 2011, stock held in private non trading companies or issued to none US holders.
Never noticed before – Thanks!
Here is what I found on a web page and could correlate to the delay we have been through as well.. who knows but it is interesting – IMO..
In October 2008, George W. Bush signed into law the Emergency Economic Stabilization Act. As part of that Act, the IRS included a proviso that all equity securities and units of investment trusts bought after January 1, 2011 will be required to maintain, pass-through and report all cost bases on all transactions. For years, the brokerage industry has maintained this information on a voluntary basis and the mutual fund industry has both maintained and, in the case of sales, reported this information on 1099B forms. It was up to the investor, however, to report the correct cost basis for individual sales of equity securities to Do you know how to allot cost basis on every transaction?
Now, the issuer (YOU!) and the transfer agent (US!) will be required to maintain all tax lot cost basis information for any transfers of shares that occur after January 1, 2011. The Depository Trust & Clearing Corporation is designing new software to accommodate all pass-through information through their CBRS program. This may or may not be a program in which issuers will be allowed access. As your transfer Our software has been updated and designed to handle the new law. We will require more information from you, however.