Don't Forget to Provide Stock Basis!

Not all purchase information for assets sold will be provided on the new 1099-B forms because the brokerage firms were only required to keep track for assets purchased starting January 1, 2011. It is your responsibility to provide the purchase price and original cost of stocks, real estate and any other assets you sold by searching your records or asking your broker. A fee will be charged if you want us to compute the basis for you. THE IRS WILL ALWAYS ASSUME THAT THE BASIS IS ZERO IF YOU CANNOT PROVE OTHERWISE.  Therefore, if you don't provide the basis we will take the IRS stand on this and also use zero which may result in a higher tax.