Tax Lot Accounting

Tax Lot Accounting

A method of accounting for a portfolio in which one keeps a record of the purchase price and sale price of each security in the portfolio, along with each one's cost basis and transaction size. One maintains the same record for each security even if one performs more than one transaction with it. The goal of tax lot accounting is to minimize one's taxes by reducing the net present value for accounting purposes.
References in periodicals archive ?
A corollary to loss harvesting is tax lot accounting, which keeps track of the dates of purchases, sales and cost basis of various trades made in the same security.
Selecting from more than 7,200 no-load or load-waived mutual funds, Legg Mason identifies appropriate funds to implement your written investment policy Mutual Solutions is a customized, fee-based portfolio of mutual funds with tax lot accounting, time-weighted performance, consolidated monthly statements, and quarterly reports.
long-term capital gains, after-tax returns compared to pretax returns, unrealized gain in a mutual fund, and the use of tax lot accounting to minimize capital gains distributions (see below).
GainsKeeper's solutions enable financial institutions to offer sophisticated tax lot accounting services to their customers, ranging from back-office outsourcing to fully integrated, web-based tools and services utilized by the brokerage, mutual fund, hedge fund and fund administration industries.
OFI) has implemented its GainsKeeper[R] tax lot accounting technology to help meet requirements of the newly enacted cost basis reporting law.
Based on proposed effective dates for cost basis reporting requirements, brokers, return preparers, tax advisors and taxpayers will likely have less than two years to prepare," said Stevie Conlon, tax director for GainsKeeper, which provides sophisticated tax lot accounting services to financial organizations, advisors and individual investors.
Market Street Advisors' services include portfolio management, tax lot accounting, trade and order management, pre-trade and post-trade compliance, performance measurement and reporting, automatic account reconciliation, customized workflow, and electronic connections to a number of major financial services institutions.
Integrated Brokerage Platform and Tax Lot Accounting to Provide Brokerages with Superior Tools
provides ASP solutions for financial institutions, enabling its partners to offer sophisticated tax lot accounting to their customers without incurring the high cost of building, maintaining, and housing the systems and operations necessary to provide institutional-quality service.
GainsKeeper Institutional Services (GKIS), a division of GainsKeeper, provides ASP solutions for financial institutions, enabling its partners to offer sophisticated tax lot accounting to their customers without incurring the high cost of building, maintaining, and housing the systems and operations necessary to provide institutional-quality service.
FundTax was introduced in 2000 and remains the only fully automated, platform-agnostic tax lot accounting service available.