A little noticed system upgrade at Fidelity Investments is now getting more play. Earlier this year the Boston Behemoth rolled out a new tax-lot identification sytsem that enables fund shareholders to use the Web to identify their cost basis on shares bought since 1987.

Fidelity was able to roll out the service after it upgraded its recordkeeping system, according to a report in the Wall Street Journal. The article adds that Vanguard is exploring implementing its own version of this service.

On the Fidelity system, shareholders can identify specific share lots when to sell when they redeem shares. The Web page lists up to 150 transactions, including the cost bases information that customers need to minimize their tax bill.  

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