U.S. Senate panel eyes tax gap on stock gains

(Reuters) - The proposal would require brokers to report to their
customers the cost basis of securities that are sold as well as
the proceeds. The information would also be reported to the
Internal Revenue Service.




Currently brokers provide clients with information on the
proceeds from a sale, but usually leave it to the client to
figure out the cost basis and the gain or loss to be reported
to the IRS.


Read more at Reuters.com Government Filings News