Cost Basis Frequently Asked Questions

What is cost basis?

What is the new cost basis legislation?

What are covered securities? What are non‑covered securities?

What cost basis methods are available?

What happens if I did not elect a cost basis method?

Can I change my election?

How often can I change my method?

What cost basis method will be used on a new fund/account that I open?

Which cost basis method is best for me?

Who is responsible for reporting cost basis gains and losses to the IRS?

How will my gain/loss be reported?

What is a wash sale?

If I have both covered and non‑covered shares, which will be used when I request a redemption?