Cost Basis rules - Schwab download

[crawfordn]

Hi Mark,
The new cost basis rules are resulting in Schwab including cost basis info in their download. I suspect it will be a separate file, so I may not need to worry about it. It will apparently reflect adjustments for things like bond amortizations as well. Have you had any contact with them or previews? They will have a capital gains treatment "tax optimizer" which looks a lot like your min gain treatment. Will there be a reconciliation possibilty for tax lots? I will have my costs on their system match those on FM by Jan. 1. Thanks for any edifyiing advice you might have. Best, Rick

[Mark]

Hi Rick,

We haven't heard anything from Schwab. I just sent our contact there a question about this, so if I hear anything, I'll post the update here.

We did hear from TD Ameritrade about this, and they are changing their transaction file format, so it wouldn't be surprising if Schwab is doing the same thing.

[crawfordn]

As usual, I'm one step behind you. I'll keep checking periodically. Thanks. Rick

[Mark]

Hi Rick,

It seems Schwab will be making new files available starting Dec 15. You can read about the new files here:

http://www.schwabadvisorcenter.com/publ ... _tech.html

The existing files remain un-changed.

[paulk]

Hi Mark

I didn't catch this topic earlier. So TD Ameritrade will be including a separate file to reflect what they are carrying as cost basis along with the TRN and POS files? Any plans on including a reconcile feature in FM to reconcile the cost?

Thanks.

[Mark]

Hi paulk,

That would be a nice new feature. We can consider adding this into a future release. We don't have any real near term plans for adding it.

[paulk]

Mark

So this new TD dowload format will not change anything functionality-wise or reporting - wise in the program?

[Mark]

Hi paulk,

Yes, this is correct.