Investment Audit Systems™ (IAS) has been powering the most robust cost basis calculators in the marketplace since introducing the first commercially available cost basis calculator in 2002. Marketed under several brand names through subsidiaries of our data partner, Interactive Data CorporationSM, these calculators have helped more tax and investment professionals save time, money and effort than any other.
IAS is proud to continue its exclusive partnership with Interactive Data Corporation by making its Cost Basis Calculators and Research tools available directly to Investors and Tax Professionals through this web-based service.
New Features for 2009/2010 Tax Season
In keeping with our mission to consistently upgrade features and performance of our Cost Basis suite, the 2009 version of the IAS Calculator and research tools contains many new capabilities:
Enter More Trades - Other calculators will cause a user to derive (calculate) the cost basis of each 'buy' (tax lot) separately. This takes more time, costs more money, and will not let the user know if buying and selling in the same security has triggered the IRS "wash sale" rule. With the Enter More Trades feature of the IAS Calculator, you can add an almost unlimited number of buys and sells into the calculator, and let it do all the work of adjusting for not only cost basis events that impacted the investment (capital changes), but also for wash sales.
The IAS Reverse Calculator™ - Developed in response to a frequently articulated need by tax preparers, CPAs and investors, the IAS Reverse Calculator helps to derive the cost basis of an investment position when the investor has incomplete investment records. Often, a security is sold (triggering the need to do a gain/loss for tax purposes) for which there exists no record of when the security was originally bought, or even what security was bought. Corporate events such as mergers, name changes and spin-offs can make the identification of the original stock, bond or mutual fund nearly impossible. The IAS Reverse Calculator collects information about the security that was sold, and works backward to help identify not only the initial security, but also the number of shares originally purchased and the adjusted cost basis.
Automated Schedule D - Adding to the robust efficiency features already found in the IAS Calculator Results screen of information, IAS has now automated the creation of an IRS Form 1040 Schedule D (pdf format) from the gain/loss information found in the Calculator Results.
The IAS Family Tree List™/ Family Tree Chart™ - Researching securities is often complicated by corporate events that have changed an investment from one security to another over time. Mergers, stock splits, reverse stock splits, spin-offs, and name changes have affected literally thousands of securities in just the past few years. IAS has created the technology to tie all these affected securities together so that researching their histories, whether for cost basis or other purposes, is unimpacted by the changes brought over time. The IAS Family Tree List gives users a simple listing of all related securities along with the events that connect them, while the extraordinary IAS Family Tree Chart presents the information in an easy-to-understand graphical form.