Common use of Cost Basis Clause in Contracts

Cost Basis. For assets held at LPL, for any assets purchased within the Plan’s account, the cost basis is the actual purchase price including commissions. For any assets transferred into the Plan’s account, original purchase price is used as the cost basis to the extent such information was submitted by you or the Plan’s previous service provider to LPL. It is your responsibility to advise LPL immediately if the cost basis information is portrayed inaccurately. Statement calculations and figures should not be relied upon for tax purposes. The original trade confirmation customarily should be used for cost basis information.