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However, for those securities defined as "covered" under current IRS cost basis tax reporting regulations, TD Ameritrade is responsible for maintaining accurate basis and tax lot information for tax reporting purposes. Tax lot and performance reporting is offered and conducted by Wolters Kluwer Financial Services ("WKFS") for all securities in an account and is made available by TD Ameritrade for general reference and education purposes. Market volatility, volume and system availability may delay account access and trade executions. Not investment advice, or a recommendation of any security, strategy, or account type. The taxpayer is responsible for reporting any security bought and sold on his or her tax return.Ĭontent intended for educational/informational purposes only. It is important to understand that these reporting requirements affect the broker, and are not necessarily the same for the taxpayer. This exclusion includes real estate mortgage investment conduit securities (REMICs). Debt subject to accelerated repayment of principal.Short-term debt (securities issued with a term of one year or less).Broad-based index options that are treated like regulated futures contracts.To date, certain securities are still considered noncovered by default. More complex debt instruments including convertible debt, variable and stepped interest rates, STRIPs and TIPs acquired after January 1, 2016.

Equity options, non-1256 index options, stock warrants, and basic debt instruments after January 1, 2014.

Mutual funds purchased after January 1, 2012.

Equities purchased under an enrolled dividend reinvestment program (DRIP) after 2012.

Equities purchased after January 1, 2011.

The Emergency Economic Stabilization Act was implemented in phases. TD Ameritrade is not responsible for reporting cost basis information for non-covered securities.* The goal of the act is to help ensure the accurate reporting of gains and losses, and to simplify your year-end tax preparation.Ĭovered securities and noncovered securitiesĬovered securities are those subject to cost basis reporting rules and securities for which TD Ameritrade is required to report cost basis information to the IRS.

Prior to 2011, firms such as TD Ameritrade reported only sale proceeds. The Emergency Economic Stabilization Act of 2008 requires that brokerage firms and mutual fund companies report their customers' cost basis and holding period on covered securities to the IRS on their Consolidated Form 1099s when securities are sold.

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