Xcitek Improves Its Cost Calculator For Securities

Xcitek has enhanced its proprietary cost basis calculator, which aims to help customers derive tax cost basis on securities. It now allows users to factor in merger elections and other voluntary events, includes a backward reference capability to wade through

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Xcitek has enhanced its proprietary cost basis calculator, which aims to help customers derive tax cost basis on securities. It now allows users to factor in merger elections and other voluntary events, includes a backward reference capability to wade through mergers, acquisitions, splits, spin-offs and distributions to help identify the original issue, and delivers results that not only show the cost basis on the original security, but also on any security which may have emanated from the original.

Using AT&T as an example, the previous version would have derived the tax cost basis only on the primary security. To get cost basis on the ‘Baby Bells’, Lucent and other securities, each would have been entered into the calculator individually. The new version provides the cost basis on the original, each distributed security (Baby Bells, Lucent, NCR and others) and every security that came out of those as well (Agere, Avaya, Vodafone, and so on).

“The vast majority of investors do not have tax lot accounting tools tracking the cost basis on their securities,” says Charles W. Price, Senior Vice President, Xcitek LLC. “Our Cost Basis Calculator is the most efficient way for their broker or advisor to provide them with this critical information. By integrating into the calculator features that make complex tasks quick and easy, we are increasing the value of the calculator to our client base by making them better able to serve their clients.”

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