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Log in to set or change your cost basis method. Changes to or from the average cost method can't be accepted by phone. We offer four accounting methods: Amortize bond premium. Include accrued market discount. Accrue market discount based on a ratable (straight-line) method. Translate interest income and expense at the spot rate.
Cost basis reporting: An overview. All sales of mutual funds, most exchange-traded funds (ETFs), and stocks will generate a Form 1099-B that provides detailed cost basis information to help you report capital gains and losses on your tax return.
MinTax is a form of the "specific identification" cost basis method, which attempts to minimize the income tax you'll owe for the current year. This method is available for mutual funds, ETFs (exchange-traded funds), and stocks. Our system prioritizes your tax savings by selecting to sell securities in the order listed below:
This form can be used to provide missing cost basis information for noncovered securities in your nonretirement accounts. Vanguard does not report cost basis for noncovered securities to the IRS.
Use this form to choose a cost basis accounting method for existing positions in your Vanguard accounts. You can also do this when you log on to your account on vanguard.com. Consult a tax advisor for guidance regarding your specific situation.
How will the change affect my cost basis information? The cost basis of your fund investments, including your calculation method, will be the same once transitioned to your identically registered Vanguard Brokerage Account. However, there are a few important considerations, depending on the calculation method you’ve elected for
You can use the average cost number that Vanguard presents for the older (non-covered) shares if you sell any of them, even though you've set the cost basis method to Spec-ID. The Spec-ID setting really only applies to the covered shares.
If you had selected MinTax cost basis for your taxable managed accounts, they were changed to Specific Identification cost basis when you left the service. If you'd like to update those accounts to a different cost basis method, log on your Vanguard account or call 888-273-4205.
Log in to see your cost basis summary. For noncovered mutual fund shares, we'll continue using average cost to track the cost basis. If you're eligible to use specific identification for noncovered shares, you'll need to use your records to specify the shares to be sold as we only have the average cost basis available.
For mutual funds, you can determine your cost basis using the FIFO method or average cost method. Under the FIFO method, the first share you bought is the first share you sell. Under the...