Ignites – New IRS Guidance Lowers Cost Basis Hurdles for Funds


Scivantage’s Cameron Routh spoke with Ignites reporter Jackie Noblett about the additional IRS guidance released yesterday, June 22, 2011, that will make it easier for mutual fund companies to implement average cost as a default cost basis accounting method. The notice is likely to influence how funds select a default method for cost basis, and will likely spur more funds to use average cost as a default, according to Routh.

Read the full article here.


Posted in Basis reporting legislation, Cameron Routh, Cost Basis and tagged , .