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G2 FinTech Adds Pre-Trade Wash Sale Analysis Functionality to TaxGopher®

New Decision-Making Tool Alerts Investment Managers to Securities Transactions That Will Result in a Wash Sale

G2 FinTech, provider of tax analysis and compliance software for the investment management community, has today announced the addition of its Prospective Wash Sale Purchases reporting tool to TaxGopher, the firm’s powerful engine for performing tax analyses on securities transactions. Available to current and new TaxGopher users, the reporting tool provides investment managers with a clear view of which previously sold securities, if replaced through a purchase transaction, would trigger a wash sale.

With the new Prospective Wash Sale Purchases reporting tool, TaxGopher now identifies securities for which an acquisition would create a wash sale due to an existing realized loss occurring within the last 30 days. Investment managers can now see how their bottom line would be affected if they were to buy an identical security or another member in its family of substantially identical securities. For each identified security, the reporting tool creates a breakdown of the following: realized gains & losses, realized gains & losses adjusted for the prospective wash sale, the number of shares subject to the wash sale, and the potential wash expiration date. A corresponding report analyzing wash sales that occur due to disposition of open lots with unrealized losses will follow in a subsequent release of TaxGopher.

Brian Roberti, Managing Director of G2 FinTech, comments: “TaxGopher’s new reporting tool will help investment managers with their decision making through the proactive tax analysis of securities transactions before the trade. The ability for pre-trade analysis also presents an opportunity for an earlier discussion with the end-investor regarding potential tax liabilities. To date, TaxGopher has been helping the middle and back-office to meet tax compliance requirements, but now we have extended it to serve the front-office as a pre-trade decision support tool for tax-sensitive funds.”

TaxGopher’s new reporting tool can be accessed at the beginning of each trading day, along with TaxGopher’s summary-level reports, allowing investment managers to see that day’s prospective wash sales in addition to tax year-to-date balances for disallowed losses and re-allowed losses categorized as short-term or long-term. These summary-level reports provide an effective view of both the economic book and the tax book. Intra-day, the investment manager can also access a full suite of TaxGopher reports, which can be downloaded to Excel or saved to a PDF format.