TD Waterhouse is introducing a free service that allows customers to track current gains and losses , in order to manage the tax implications of their securities investments easily and efficiently.
The service was developed jointly by TD Waterhouse and ADP Brokerage Services Group, and features real-time cost basis information on portfolio holdings. The announcement was made at the Money Show, an educational conference for investors that covers investing, the economy, and personal finance.
The new Cost Basis Service allows TD Waterhouse customers to view real-time gains and losses for individual positions as well as their entire portfolio.
The Cost Basis Service also provides realized gains and losses for positions sold through TD Waterhouse, and offers a printer-friendly summary to help streamline tax filing. It also provides First In First Out (FIFO) and average cost calculations, as well as current and previous year tax lot data.
“Calculating the tax impact of investment decisions has always been a complex undertaking for investors. However, our customers can now analyze the tax implications of buy and sell decisions more easily by using our new cost basis service,” says Joe Barra, Executive Vice President of Customer Relationship Management at TD Waterhouse. “We were pleased to work with ADP Brokerage Services to bring this powerful new feature to our customers.”
TD Waterhouse jointly developed Cost Basis Service with ADP Brokerage Services Group. The companies worked together to create a flexible solution that was customized to meet the needs of TD Waterhouse’s customers. The cost basis solution provides customers with updated data from dividends, stock splits and options, and allows customers to drill down for information on individual lots. Customers can manually access the database to add and modify account-level tax lot information, and they can retrieve data online through TD Waterhouse’s website.