Cost Basis Reporting & Basis Determination
Published on:
October 4, 2013
SIFMA provides comments to the Internal Revenue Service (IRS) on final regulations for cost basis reporting by securities brokers and basis determination for debt instruments and options.
SIFMA requests that the three year phased effective dates for cost basis reporting on debt instruments and options are each extended one year from January 1, 2014 to January 1, 2015, followed by transfer reporting to January 1, 2016, and finally complex debt to January 1, 2018.