TMCnet News
United Kingdom : G2 FinTech introduces new tool for prospective wash sale purchases [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) G2 FinTech, the tax analysis software provider for investment managers said it will add to its TaxGopher engine a reporting tool for prospective wash sale purchases. This new tool will enable investment managers to find out which previously sold securities, if replaced through a purchase transaction, would result in a wash sale. For each previously sold security, the tool will break down realized gains and losses both separately and adjusted for the prospective wash sale, the number of sales subject to the wash sale, and the prospective wash expiration date. These kinds of acquisitions are required to come within a month of an existing realized loss in order to trigger a wash. Brian Roberti, managing director of G2 FinTech said TaxGopher's new reporting tool will enable investment managers to help in decision making through the proactive tax analysis of securities transactions before the trade. Until now, TaxGopher has been providing assistance to the middle and back-office to meet tax compliance requirements. Now it serve the front office as a pre-trade decision support tool for tax-sensitive funds. (c) 2012 Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company [ Back To TMCnet.com's Homepage ] |