Get the free Cost Basis Election Form - Aquila Group of Funds

IRS regulations require that we report cost basis on mutual fund shares purchased after January 1, 2012, and subsequently redeemed. To elect or change your cost basis method(s) please complete this

How to fill out cost basis election form

How to fill out cost basis election form:

1. The cost basis election form is typically required by individuals who have purchased or sold securities or investments.
2. Start by obtaining the cost basis election form from the appropriate financial institution or brokerage firm.
3. Fill out your personal information, including your name, address, and social security number.
4. Provide details about the securities or investments for which you are electing a cost basis. This may include the ticker symbol, description of the investment, and the date of purchase or sale.
5. Determine the cost basis method you wish to use. The cost basis is the original value of the investment and can affect your tax liability upon sale. Common methods include specific identification, first-in first-out (FIFO), and average cost.
6. Indicate your chosen cost basis method on the form and sign and date it.
7. If the form requires any additional information or documentation, make sure to include it along with the completed form.
8. Submit the filled out cost basis election form to the appropriate financial institution or brokerage firm.

Who needs cost basis election form:

1. Individuals who have purchased or sold securities or investments may need to fill out a cost basis election form.
2. This form is often required by financial institutions or brokerage firms in order to determine the appropriate tax treatment for the investments.
3. The form allows individuals to choose their preferred cost basis method, which can impact the amount of capital gains or losses reported on their tax returns.
4. It is important to accurately complete and submit the cost basis election form to ensure compliance with tax regulations and potentially minimize tax obligations.

For pdfFiller’s FAQs

What is cost basis election form?

The cost basis election form is a form used to indicate how an investor wants their cost basis to be calculated for tax purposes.

Who is required to file cost basis election form?

Investors who want to choose their preferred method of calculating cost basis for tax purposes are required to file the cost basis election form.

How to fill out cost basis election form?

The cost basis election form can typically be filled out either online or by mail, following the instructions provided by the brokerage firm or financial institution.

What is the purpose of cost basis election form?

The purpose of the cost basis election form is to allow investors to select the method by which their cost basis will be calculated, which can affect their tax liability.

What information must be reported on cost basis election form?

The cost basis election form may require information such as the investor's name, account number, preferred cost basis method, and any specific instructions or preferences.

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