The following is printed from www.sitfunds.com
New tax regulation requires that you choose a method of cost basis calculation for your accounts that are subject to Form 1099-B tax reporting. Starting with the 2012 tax year, Sit Mutual Funds will be required to report cost basis and gain/loss information to you and to the Internal Revenue Service (IRS). We offer a wide variety of cost basis calculation options so you can tailor the method(s) to your own tax situation.
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