Frequently Asked Questions

What is Cost Basis?

When you sell a security, such as shares in a company or a mutual fund, you must report the capital gains as taxable income. Capital gains are the difference between what you paid for the security and what you sold it for. What you paid for the security is called the “cost basis.”

How do I use Netbasis?

Look up security, type in purchase sale information and hit calculate

What will I receive?

  • Audit report of all transactions and corporate history including dividends and corporate actions and adjusted cost basis, total shares and fair market value of what you own today or last owned
  • 8949/Schedule D
  • Electronic export for tax software
  • Pdf or printed report

If I don’t have the complete purchase date, can I still use Netbasis?

Yes. Netbasis allows you to enter a partial purchase date into the system. If all you have is the year or month and year but not the day of a purchase, you can enter that into the system and Netbasis will calculate an adjusted cost basis using the average of the high/low price for the year and/or month.

My stock experienced splits and mergers. Do I need to know that information in order to use Netbasis?

No. Netbasis will automatically account for any corporate activity that happened while you owned your stock and adjust the cost basis and shares accordingly.

What securities does Netbasis cover?

Netbasis covers the pricing of publicly traded stocks and mutual funds going back as far as 1925 with corporate actions drawing back to 1962.

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If you still have questions, please feel free to contact us directly and we will do our best to satisfy your needs.

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