Use Netbasis to Make Sure the Taxes on Your Capital Gains Are Done Right!
What is Cost Basis?
Cost basis is the price you paid or the valued price for a stock or mutual fund on that specific day. From that day going forward, the cost basis can be adjusted for reinvested dividends or for corporate actions (splits, mergers, spin-offs) that occur during the time you own the shares.
How Can Netbasis Help?
Netbasis is an online cost basis calculator. When you sell any shares and have to report the capital gains tax, first, you have to calculate your adjusted cost basis. The Netbasis cost basis calculator will adjust the acquisition price of the stock for splits, spin-offs and mergers and dividends reinvested (if you participated) and other corporate actions that may have occurred during the time you owned the security. Netbasis easily calculates your adjusted cost basis even if you don’t have all of your investment information or if you acquired your shares decades ago.
Why is Using Netbasis Important?
Netbasis was used by the IRS in an audit study of investing taxpayers. Since Congress passed the Cost Basis Legislation, it is now more important than ever before to accurately report your cost basis. Trusting random websites that make false claims about accurately calculating your cost basis can be risky when reporting your gain/loss to the IRS.
NetWorth Services is excited to introduce to you the next generation of our award-winning cost basis application, Netbasis. This new, state-of-the-art version boasts faster processing capabilities and an enhanced data verification process.
“What Information Do I Need To Start Using Netbasis?”
Netbasis has all of your security’s corporate actions (splits, mergers, spin-off, etc), pricing and dividend information. Netbasis requires only a minimum amount of information from you to calculate your cost basis. After identifying the original security you acquired, you just need to enter the following information:
Enter the date(s) for shares you acquired (purchased, inherited or received in a spin-off). Then enter the date(s) for the shares you sold.
Enter the number of shares for every acquisition. Then enter the number of shares for every sale.
You don’t have to enter every dividend. Just click “Yes” if you reinvested dividends for the entire holding period or enter the “Start” and “End” dates if you didn’t.
You’re Just Minutes Away from Getting an Accurate Adjusted Cost Basis
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