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This form is used to elect a different cost basis method for covered shares for The Cook & Bynum Fund. It includes sections for account information, signatures, and cost basis method selection.
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How to fill out cost basis election form

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How to fill out COST BASIS ELECTION FORM

01
Read the instructions provided with the COST BASIS ELECTION FORM.
02
Gather all necessary documents and information, such as transaction records and cost basis details.
03
Fill in your personal information at the top of the form, including name, address, and tax identification number.
04
Choose the appropriate election for the cost basis method (e.g., Specific Identification, Average Cost, First In First Out).
05
List the assets for which you are making the election, including details like asset type, transaction date, and cost basis.
06
Review the completed form for accuracy and completeness.
07
Sign and date the form as required.
08
Submit the form to the appropriate tax authority as indicated in the instructions.

Who needs COST BASIS ELECTION FORM?

01
Individuals and entities that have sold or exchanged securities and need to report capital gains or losses.
02
Taxpayers who want to choose a specific method for calculating their cost basis.
03
Investors looking to optimize their tax position by selecting an appropriate cost basis method.
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The Cost Basis Election Form is a document used by taxpayers to report the cost basis of securities when they sell or dispose of them, allowing them to choose how the gains or losses are calculated for tax purposes.
Taxpayers who sell or dispose of securities and need to report the gain or loss from the transaction are required to file the Cost Basis Election Form.
To fill out the Cost Basis Election Form, taxpayers must provide details such as the type of securities, acquisition costs, date of acquisition, date of sale, and the proceeds from the sale, along with their chosen method for calculating the cost basis.
The purpose of the Cost Basis Election Form is to ensure accurate calculation of capital gains or losses for tax reporting and to allow taxpayers to select their preferred method for determining the cost basis of sold securities.
The information that must be reported includes the description of the security, date acquired, date sold, amount realized from the sale, cost basis, and the elected method of accounting for the cost basis.
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