Gain/Loss & Tax Center

Summary

The Gain/Loss & Tax Center is a free tool inside your Scottrade account designed to assist you in calculating your gains and losses. The Gain/Loss & Tax Center is used to make changes to your tax strategy, and Scottrade will use the information in this tool to report cost basis and sales proceeds to the IRS at tax time.

To get to the Gain/Loss & Tax Center, log in to your account and click the My Account tab at the top. Then click Gain/Loss & Tax Center from the left menu.

Summary

The Gain/Loss & Tax Center Summary page provides an overview of your portfolio and highlights important action items that may need your attention. To access the Summary page of your account, go to the My Account tab and choose Gain/Loss & Tax Center from the left navigation menu. The features of the Summary page are described below.

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Tax Center Introduction

The Tax Center section of the Summary page lists Tax Center features and provides tips for getting started. Collapse or expand the Tax Center box based on your preferences.

Status

The Status section of the Summary page provides vital statistics and action items for your portfolio.

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Incomplete Positions - Gain/Loss & Tax Center can only help you manage your account if the information you provide is complete and accurate. "Incomplete Positions" indicates the number of positions you hold that are missing cost basis information in Gain/Loss & Tax Center. Click the text to see and edit your list of incomplete positions.

Tax Strategy - Stocks, Options & Bonds - This is the current tax strategy that is in effect for your portfolio on stocks, options and bonds. See Tax Strategies for more information about tax strategy selections.

Tax Strategy - Funds - This is the current tax strategy that is in effect for your portfolio on any fund positions you currently hold. See Tax Strategies for more information about tax strategy selections.

Unrealized Gain/Loss - Your unrealized gain/loss is the current gains or losses on the tax lots you hold in your portfolio. If you have previously completed an incomplete position, the gain/loss will be based on the position's information you've entered into the Gain/Loss & Tax Center.

YTD Realized Gain/Loss - Your realized gain or loss is a calculation of the net gain or loss on the tax lots you have closed this year.

Asset Allocation

The Asset Allocation chart displays a convenient snapshot of the current holdings in your account across the following categories: stock, options, mutual funds, and other. Using this chart, you can quickly and easily determine whether your holdings are balanced appropriately based on your investment strategy.

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Scottrade does not provide tax advice. The material provided in this article is for informational purposes only and Scottrade is not responsible for any errors or omissions. Contribution and income limits are subject to change without notice. Please consult your tax or legal advisor(s) for questions concerning your personal tax or financial situation.

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The information and content provided in the Scottrade® Knowledge Center is for informational and/or educational purposes only. The information presented or discussed is not, and should not be considered, a recommendation or an offer of, or solicitation of an offer by, Scottrade or its affiliates to buy, sell or hold any security or other financial product or an endorsement or affirmation of any specific investment strategy. You are fully responsible for your investment decisions. Your choice to engage in a particular investment or investment strategy should be based solely on your own research and evaluation of the risks involved, your financial circumstances and your investment objectives. Scottrade, Inc. and its affiliates are not offering or providing, and will not offer or provide, any advice, opinion or recommendation of the suitability, value or profitability of any particular investment or investment strategy.