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Thursday, January 19, 2012

Personal Finance Daily: New cost-basis tax rules hit investors

MarketWatch
Personal Finance Daily
JANUARY 19, 2012

Thursday's Personal Finance Stories

By MarketWatch



Don't miss these top stories:

Got stocks? Well, heads up: Investors who buy and sell stocks have a new tax form and new reporting rules to contend with this year when they do their tax returns — and some tax pros say the new rules could cause confusion. Andrea Coombes writes today in our TaxWatch column that thanks to the Emergency Economic Stabilization Act of 2008, starting in tax year 2011, if you sell a stock, your broker must report to the IRS the amount you paid for that stock — that is, your cost basis. Got aspirin?

Also in today's Personal Finance section on MarketWatch, Robert Powell takes a look at data ranking the best places in the world to retire abroad. Of course, best is very relative, but these havens offer some great scenery, warm weather, low cost of living and good real estate prices. Some of these places may be great opportunities for adventurous retirees. On the other hand, they may be great places to visit, even if you don't want to live there.

Anne Stanley , Managing Editor, Personal Finance

The world's top 10 retirement havens

These 10 countries offer retirees a low cost of living and cheap real estate, for starters. But you might be surprised just how many other retirement benefits you are afforded at these overseas destinations.
See the slide show: The world's top 10 retirement havens.


30-year fixed-rate mortgage hits record low

Interest rates on the 30-year fixed-rate mortgage hit another low this week, averaging 3.88% in Freddie Mac's survey of conforming mortgage rates.
Read more: 30-year fixed-rate mortgage hits record low.


Investors, prepare for tax headache on cost basis

Investors who buy and sell stocks have a new tax form and new reporting rules to contend with this year when they do their tax returns — and some tax pros say the new rules could cause confusion.
Read more: Investors, prepare for tax headache on cost basis.


Living the American dream — in Canada

The American dream is headed north — while it's been headed south in the U.S. The big headline in Canada's national daily this week was an eye-opener: "In Canada, unlike the U.S., the American Dream lives on." A prestigious new study had found that Canada's social mobility is now far greater than America's.
Read more: Living the American dream — in Canada.


INVESTING

Trading Deck: Cheap stocks to snap up now

Jeff Reeves writes today in the Trading Deck that not all cheap stocks are ugly investments that will whipsaw you around with volatility. Some low-price shares are indeed screaming bargains worth your cash.
Read more: Cheap stocks to snap up now.


Kodak files for bankruptcy protection

Iconic U.S. photo-equipment maker Kodak says the company and its U.S. subsidiaries filed for Chapter 11 bankruptcy.
Read more: Kodak files for bankruptcy protection.


Peeling back the bank onions

Investors probably won't get excited about Morgan Stanley or Bank of America based on their fourth quarters, but the future? That's the bet to consider.
Read more: Peeling back the bank onions.


James Dines cites murmuration

Murmuration? The amazing James Dines has another Big Idea.
Read more: James Dines cites murmuration.


ECONOMY AND POLITICS

Philly Fed gauge up modestly in January

Philadelphia-area manufacturers reported a slight increase in activity in January, according to a closely followed index released Thursday that points to an economy moving but not racing along.
Read more: Philly Fed gauge up in January.


Jobless claims fall 50,000 to 352,000

New applications for unemployment benefits fell sharply last week, putting them at their lowest level in almost four years,
Read more: Jobless claims fall 50,000.


Consumer prices unchanged in December

Americans saw virtually no change in the prices they paid in December for a broad range of goods and services, according to the latest government data.
Read more: Consumer prices unchanged in December.


China consumers spend, even as growth eases

Retail-spending growth and the emergence of a new class of super consumers could be among the few bright spots as China's economy shifts towards an era of slower growth, analysts say.
Read more: China consumers spend, even as growth eases.


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