Are wrap accounts worth the cost?

Article Abstract:

Wrap accounts provide managed investment account services for a set fee. Introduced by brokerage firms, the accounts are now also being offered by banks, mutual funds and insurance companies. The accounts may be useful for some, but the 3% fee is a difficult handicap to overcome.

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When to amend a tax return

Article Abstract:

Approximately two million people filed amended tax returns in 1992. Amended returns are normally initiated to correct previously-overlooked deductions or other overpayments. Such a return must be filed within three years of the original return.

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Figuring the gain on mutual-fund shares

Article Abstract:

Capital gains tax is to be paid if the mutual fund shares are sold for a greater amount than the 'basis,' or purchase price with some adjustments. A lower selling price may be declared a loss. Methods for calculating the basis are discussed.

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