Get the free Cost Basis Election Form - New Alternatives Fund

NEW ALTERNATIVES FUND Cost Basis Election Form New Alternatives Fund, and our Transfer Agent, BNY Mellon Investment Servicing (US) Inc., will be tracking and reporting to the IRS and shareholders

How to fill out cost basis election form

How to fill out a cost basis election form:

1. Obtain the cost basis election form from your financial institution or brokerage firm. It may be available online or you may need to request a physical copy.
2. Read the instructions carefully to understand the purpose and requirements of the form. Make sure you have all the necessary documents and information before you start filling it out.
3. Provide your personal details such as your name, address, Social Security number, and account number. Double-check the accuracy of the information to avoid any errors.
4. Understand the different options available for reporting your cost basis. The form may ask you to choose between specific identification, average cost, or first-in-first-out methods. If you are not sure which option to select, consult with a tax professional or refer to any guidance provided by the financial institution.
5. Review your investment transactions and identify the shares or assets for which you want to elect a different cost basis than what is reported by default. Provide the details of these specific assets, such as the purchase date, purchase price, and any adjustments or depreciation that may apply.
6. Double-check your entries to ensure accuracy and completeness. Any mistakes or missing information could lead to incorrect reporting and potential tax implications.
7. Sign and date the form in the designated area. By doing so, you are certifying that the information provided is true and accurate to the best of your knowledge.
8. Submit the completed form to your financial institution or brokerage firm according to their instructions. It is advisable to keep a copy for your records.

Who needs a cost basis election form?

1. Investors who have multiple positions in the same security or asset and wish to select a different cost basis for tax purposes may need a cost basis election form.
2. Individuals who have bought and sold shares of a security at different times and prices may use this form to specify the cost basis method they want to use for reporting capital gains or losses.
3. Taxpayers who have made certain adjustments or incurred depreciation expenses related to their investments may find it necessary to file a cost basis election form to ensure accurate reporting.
4. It is recommended to consult with a tax professional or financial advisor to determine whether you need to fill out a cost basis election form based on your specific investment situation and goals.

For pdfFiller’s FAQs

What is cost basis election form?

The cost basis election form is a document used to elect how you want to calculate the cost basis of your investments for tax purposes.

Who is required to file cost basis election form?

Investors who have eligible securities and want to choose a different method of calculating cost basis than the default method provided by their brokerage firm are required to file the cost basis election form.

How to fill out cost basis election form?

To fill out the cost basis election form, investors need to provide their personal information, account details, and specify their chosen method for calculating cost basis.

What is the purpose of cost basis election form?

The purpose of the cost basis election form is to allow investors to choose the most advantageous method for calculating the cost basis of their investments, which can affect their tax liability.

What information must be reported on cost basis election form?

The cost basis election form typically requires information such as the investor's name, account number, investment details, and the chosen method for calculating cost basis.

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