Revised 2007 Cost Basis Reporting Survey

 

 

[21065]

 

April 18, 2007

TO: OPERATIONS COMMITTEE No. 7-07
TAX COMMITTEE No. 18-07
TRANSFER AGENT ADVISORY COMMITTEE No. 21-07     RE: REVISED 2007 COST BASIS REPORTING SURVEY

 

We have received a number of questions regarding the Institute’s 2007 Cost Basis Reporting Survey. [1]  Therefore, we have revised the survey (attached) to clarify the information being sought.  Specifically:

 

• Question 6 – Please indicate the approximate number of taxable accounts that are subject to Form 1099 reporting.  This number should include only accounts that are subject to Form 1099-DIV and Form 1099-B reporting. 

 

• Question 8 – Please indicate the number of new taxable accounts that are subject to Form 1099 reporting (again, only Form 1099-DIV or Form 1099-B) that were opened in each year.  Each new account should be counted separately, even if they are opened by the same individual.  For example, if one individual opens three accounts, count this as three new accounts. 

 

If you have any additional questions about the survey, please contact me at 202/371-5432 or kgibian@ici.org. 

 

Karen Lau Gibian
Assistant Counsel

 

Attachment

 

endnotes

 [1] See Institute Memorandum (21062) to Operations Committee No. 6-07, Tax Committee No. 17-07, and Transfer Agent Advisory Committee No. 29-07, dated April 17, 2007.