NetWorth Services Launches Innovative New Design for Netbasis Cost Basis Application

PHOENIX, Dec. 14, 2011 /PRNewswire/ -- The award-winning Netbasis application (netbasis.com/basis/) now features a redesigned look that allows even easier and intuitive access to this gold-standard of cost basis calculations.

Netbasis, the flagship product of financial solutions company NetWorth Services, quickly and accurately determines the adjusted cost basis of virtually any security traded in the U.S., regardless of its history of corporate actions, including NYSE, NASDAQ and other major exchange listed stocks, ADRs, closed-end funds, REITs, OTC securities (Bulletin Board and Pink Sheets), UITs, Mutual funds and debt instruments such as options and bonds.

This fresh and forward-looking redesign of Netbasis includes an innovative, user-friendly interface that further simplifies the process of entering complex investment data. The Emergency Economic Stabilization Act of 2008 gave new direction to investors when it comes to cost basis for capital gains reporting, and the Netbasis changes make it even easier to choose the best sales methodology in compliance with the new law. Cost basis results generated by Netbasis can be loaded directly to the new IRS Form 8949 or Schedule D forms for reporting realized capital gains or losses.

New features of the Netbasis redesign include estate valuations that are seamlessly calculated to present day; a new option to quickly compute "gift to others" valuations; and, streamlined options to make tax optimization a straightforward and simple task.

The vast Netbasis database of historical pricing and corporate actions allows for accurate cost basis calculations in seconds ― even when securities have long and complicated histories of mergers, spin-offs and stock splits. Netbasis enables users to capture and track lot shares acquired under myriad circumstances, including reinvestment, employee stock option and other stock plans, voluntary cash purchases, transfer of ownership, cash or stock dividends, and corporate events.

NetWorth Services, Inc., a financial web application and database software company, is based in Phoenix, Ariz., with offices in Philadelphia and New York. Financial solutions developed by NetWorth have been adopted by many leading financial institutions, transfer agencies, tax preparation software companies, accounting firms, money managers, government agencies, Fortune 500 companies, universities, endowments and individual investors.

Marisa Diaz
602.222.6380
[email protected]

SOURCE NetWorth Services, Inc.