Cost Basis Reporting

At Thrivent Financial for Lutherans, we want to ensure our investors have the information they need to make informed decisions about their investment accounts. As part of that effort, Thrivent Financial provides you with important cost basis information to help you calculate your capital gain or loss for tax purposes when your shares are sold in non-retirement accounts.

Beginning Jan. 1, 2011, we expanded this service to provide our clients with additional cost basis methods to use for calculating cost basis. You can choose from the different methods used to calculate the cost basis on each of your accounts. Once you provide us with your cost basis election, we will track cost basis for your account using the method of your choice and provide you with the information needed to complete your tax return when you sell your investments. This information can save you time and expense when completing your tax returns. IRS regulations also require that we report the cost basis information to the IRS on Form 1099-B for tax purposes.

Consult with Your Tax Advisor

Cost basis methods can produce different gain and loss amounts depending on your financial situation and market performance during the period you owned an investment. We recommend that you consult with your tax advisor for help in determining which cost basis method is best for you. Your Thrivent Financial representative cannot provide tax advice about your cost basis election.

Investments Affected

• Jan. 1, 2011, for equity securities (i.e., common and preferred stock).
• Jan. 1, 2012, for mutual funds and dividend reinvestment plans.
• Jan. 1, 2013, for debt securities (including exchange-traded notes) and options.

In addition, Thrivent Financial will continue to provide current cost basis information when available for investments that you purchased prior to the dates above. This information is provided for your convenience and will not be reported to the IRS.

Additional Information & Resources

• Cost Basis Election Options
• Cost Basis FAQs
• IRS Publication: 551 – Cost Basis of Assets (PDF, 1.1M)

If you have additional questions, please call our customer service representatives at 800-847-4836; when prompted for requested services, say "Mutual Funds" or "Brokerage".

Cost basis reporting does not apply to annuities, life insurance, money market fund accounts with a stable net asset value (NAV), retirement accounts or Coverdell Education Savings Accounts.

 

Updating Cost Basis Election Online

Thrivent Mutual Funds Accounts

1. Log in to MyThrivent and click on MyAccounts.
2. Scroll down to the Mutual Fund Accounts section.
3. Click on the description field for the account you want to update.
4. Under "What can I do" heading, click on Cost Basis Options Change link to update your cost basis election.

Managed or Retail Brokerage Accounts

• Please contact your financial representative or the brokerage call center for assistance.

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