Cost basis

Beginning January 2012, new IRS cost basis reporting regulations took effect for mutual fund accounts (excluding retirement, education, and money market accounts).

Here are some helpful answers to your questions:

What is cost basis?

What is changing?

What cost basis methods for selling shares are available?

How do you prepare for this change?

When did these changes take place?

How does the new regulation affect closed-end funds?

What is the wash sale rule?

What are your next steps?

Any tax or legal information provided is a summary of our current understanding and interpretation of the current income tax regulations and is not exhaustive. Investors should consult their tax advisor or legal counsel for advice and information concerning their specific situation. Neither Wells Fargo nor any of its representatives may give legal or tax advice.

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