Portfolio Accounting Software Vendors Modify Systems For New US Tax Law

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When the US Congress reduced the capital gains tax in the Taxpayer Relief Act of 1997, it boosted the income of American individual investors, but it inadvertently sent several suppliers of portfolio accounting systems scrambling to add last-minute changes to their software programs before the year is out. The new law creates four classes of capital gains, where only two had existed previously, and this will force software vendors to add two columns to their reporting features.

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