OID Calculations, Bond Premium, Market Discount & Acquisition Premium
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GainsKeeper CompleteDebt™

  • Get the cost basis reporting Phase 3 debt functionality you need, including: OID - original issue discount; bond premium; market discount; and, acquisition premium for Jan. 1, 2014 compliance-as a stand-alone system 

    CompleteDebt™ provides the full range of debt functionality available on our GainsKeeper enterprise system today as a stand-alone solution. It can be seamlessly integrated with your existing cost basis system to meet the Jan. 1, 2014 compliance requirements. 

    In addition to adjusting debt securities for wash sales and corporate actions, Phase 3 requires four additional debt adjustments: OID - original issue discount; bond premium; market discount; and, acquisition premium. Brokers must also support five customer elections that affect these adjustments. Most debt calculators do not comply with all of the tax rules for making these adjustments. Moreover, the security master data required for tax calculations and reporting is not contained in a typical broker's operations focused security master. And, wash sales and corporate actions relating to debt securities can be extremely complicated.

    By providing a single comprehensive debt solution, CompleteDebt™ eliminates the often disjointed workflow issues resulting from reliance on multiple third party vendors for OID, bond premium, market discount, and acquisition premium debt adjustments. But more importantly, non-integrated systems raise potentially severe compliance risks for brokers because of concerns that necessary data or attributes are not passed or properly utilized by different processes employed by separate vendors or work groups such that there are inherent errors in the final calculations reported to the IRS.

    Learn more about the cost basis reporting law.