In 2011 the new Cost Basis legislation has gotten a lot of press lately, mainly because reporting a client’s cost basis is now mandatory for brokers instead of being a customer service offering. Great news for investors but one major concern is that regardless of whether or not an investor had a broker, they are responsible for calculating their own cost basis for any security purchased prior to January 1, 2011 and for accurately reporting this information to the IRS. To help investors accurately calculate their cost basis, there is an amazing online application called NetBasis that can automatically calculate the adjusted cost basis going back as far as 1925!