The IRS is enforcing changes to the way Aberdeen Asset Management reports cost basis to shareholders. Beginning Jan. 1, 2012, Aberdeen Asset Management will track and report adjusted cost basis information to shareholders on IRS form 1099-B. This includes whether the sale was a gain or loss and if it is considered short-term or long-term. Cost basis tracking and reporting will be applied to all shares purchased in non-retirement accounts on or after Jan. 1, 2012.
The Aberdeen Funds wish to offer our shareholders additional information regarding the upcoming changes to Cost Basis Reporting.
In addition to the information offered by Aberdeen Asset Management, Boston Financial Data Services has created the following website as a wonderful resource for individuals seeking information on Cost Basis Reporting.