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.
Can You Trust Your Tax Reporting to Just Any Cost Basis Calculator?
What is Netbasis?
When you sell any shares and have to report it on your taxes, you have to calculate an adjusted cost basis. Which means that the price of the stock when you acquired it has to be adjusted for corporate actions, such as splits, spin-offs and mergers and dividends reinvested (if you participated) that occurred during the time you owned the stock. Our Netbasis cost basis calculator will easily provide you with 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. Trusting random websites that make false claims about accurately calculating your cost basis can be risky when reporting your gain/loss to the IRS.
How Does Netbasis Work?
Netbasis has all of your stock or mutual funds’ history of corporate actions, pricing and dividends. 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 then 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. All you have to do is enter the buy and sell information that you have.
“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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