This report details the securities that have been sold within a portfolio. In contrast to the Buys and Sells reports, the Realized Gains and Losses displays transactions at a tax lot level. As with other reports, this is available at an account or consolidated household level.

This report displays by security and lot, the proceeds from a sale relative to the cost basis. When cost basis is not available at the custodian, the realized return and gain/loss columns are not calculated. 

This is the standard definition of realized gain loss in the industry. Our choice to not display realized gain/loss on lots with missing cost basis is because we find that to be misleading. 

For example, if a position is sold for $100k and the cost basis at the time of sale is not known, the realized gain/loss would show $100k. We could receive cost basis of $105k a few weeks later from the custodian and learn that the true realized gain/loss was actually -$5k. We would rather show no gain/loss until we can accurately calculate the values.   

This report is particularly useful for guiding and informing conversations with clients around tax considerations, including conversations with your clients' tax advisors. Consider the following tips and best practices to leverage this report in your client reviews to highlight tax savings.