Good News

At least for many of us dealing with the requirement to report cost basis. Schwab’s Advisor Center just reported:

2013 Cost Basis Regulations Delayed Until 2014
The Internal Revenue Service announced that it will delay the implementation of 2013 cost basis regulations for Fixed Income and Options by one year. The new effective date for tracking and reporting cost basis information for Fixed Income and Options is January 1, 2014. Cost basis reporting rules already in place for Equities, Mutual Funds, ETFs and DRIPs are not impacted by the Fixed Income and Options effective date change.

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