Are you going to purchase stocks in 2011? If your answer to that question is “yes’, there’s an important IRS rule change you should know about.
If you buy a stock in 2011, your broker must report the gain or loss when you sell it. In fact, this will be true for the following investment classes as of the following dates:
• Individual stocks you buy after January 1, 2011
• Mutual fund shares you buy after January 1, 2012
• Bonds, options & other securities you buy after January 1, 2013 (source)(source)
Prior to 2011, …