Get the free Cost Basis Election Form - Pear Tree Funds

Print Form Cost Basis Election Form Use this form to choose or update the cost basis method on your accounts. Do not use this form for retirement accounts or accounts that are exempt from Form 1099-B

How to fill out cost basis election form

How to fill out the cost basis election form:

1. Obtain the cost basis election form from the appropriate authority or institution. This form is typically provided by your financial institution or investment broker.
2. Fill in your personal information, including your name, address, and social security number. This information is necessary for identifying your account and ensuring accurate record-keeping.
3. Specify the type of cost basis election you are making. There are generally two options: average cost and specific identification. The average cost method calculates the average cost of all shares or securities, while the specific identification method allows you to choose the specific shares you want to sell.
4. Provide the necessary details of the investment for which you are making the cost basis election. This may include the name and symbol of the security, the purchase date, the number of shares, and the purchase price. Include any additional relevant information as required by the form.
5. Review the completed form for accuracy and completeness. Ensure that all information is entered correctly and that you have provided all necessary documentation or attachments if required.
6. Sign and date the form, affirming that the information you have provided is true and correct to the best of your knowledge.

Who needs cost basis election form:

1. Investors who hold multiple shares or securities with different purchase prices and want to choose which shares to sell.
2. Individuals who wish to maximize tax benefits or minimize tax liabilities by selecting a specific cost basis method.
3. Traders or investors who want to have control over the cost basis calculation for their investments.

Please note that the specific requirements for the cost basis election form may vary depending on the institution or jurisdiction. It is advisable to consult with a tax professional or financial advisor for personalized guidance on filling out this form.

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What is cost basis election form?

The cost basis election form is a document used to determine the method of calculating the cost basis of an investment or asset.

Who is required to file cost basis election form?

Investors or individuals who want to establish or change their method of calculating the cost basis of their investments or assets 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 online or downloaded from the IRS website. It requires providing information about the individual or investor, the specific investments or assets, and the desired method of calculating the cost basis.

What is the purpose of cost basis election form?

The purpose of the cost basis election form is to establish or change the method of calculating the cost basis of investments or assets, which can impact the amount of capital gains or losses reported for tax purposes.

What information must be reported on cost basis election form?

The cost basis election form requires information such as the individual's name and contact details, the specific investments or assets for which the cost basis method is being elected or changed, and the desired method of calculating the cost basis.