The Capital Gains and Losses Report lists investment transactions made during the selected period for which a capital gain or loss was recognized. Transactions are categorized into Short-Term or Long-Term Capital Gains based on the holding period of each block of stock involved.
- Description - Security name and the number of shares sold.
- Date Acquired - The date that the block of shares was acquired by your club. In cases related to mergers and spin-offs, this date will be normally be associated with your club's original investment in the pre spin-off or pre merger company.
- Date Sold - Date of the sale transaction.
- Sales Price - Gross sales price less commissions and other expenses.
- Cost Basis - Purchase price plus commissions. Cost basis may also be adjusted if shares were affected by a reorganization such as a merger, split or spinoff, any return of capital transactions and wash sales.
Cost basis should checked against cost basis amounts shown on brokerage realized gain/loss reports. If there are differences, you should investigate the reason why. There may be historical mistakes in your bivio data or your broker may be showing an incorrect amount. In either case, it is important to address the problem as soon as possible to avoid delays in your annual club tax filing.
- Gain/(Loss) - The gain or loss realized from the sale. Equals the difference between the sales price and the cost basis.
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