12 2 STA T .3856PUBLIC LA W 11 0– 3 4 3 —O CT. 3 , 2008 ‘ ‘ (iv)anyotherf inan c ia l in s tr um ent w ith res p ect to which the S ecretary d etermines that ad j usted b asis reportin g is appropriate for purposes of this subsection . ‘‘( C ) AP P LICAB L ED A T E. —T he term ‘applicable date ’ means— ‘‘(i) J anuary 1,20 11, in the case of any specified security which is stoc k in a corporation (other than any stock described in clause (ii)), ‘‘(ii) January 1, 2012, in the case of any stock for which an average basis method is permissible under section 1012, and ‘‘(iii) January 1, 201 3 , or such later date deter - mined by the Secretary in the case of any other speci- fied security. ‘‘( 4 )T R EAT M E N T OFS CORPORATIONS.— I n the case of the sale of a covered security ac q uired by an S corporation (other than a financial institution) after D ecember 31, 2011, such S corporation shall be treated in the same manner as a partner- ship for purposes of this section. ‘‘( 5 ) SPECIAL R U LES FOR S H ORT SALES.—In the case of a short sale, reporting under this section shall be made for the year in which such sale is closed.’’. (2) B RO K ER INFORMATION RE Q UIRED W ITH RESPECT TO OPTIONS.—Section 6 045, as amended by subsection (a), is amended by adding at the end the following new subsection
‘‘(h) APPLICATION TO O PTIONS ON SECURITIES.— ‘‘(1) EX ERCISE OF OPTION.— F or purposes of this section, if a covered security is acquired or disposed of pursuant to the e x ercise of an option that was granted or acquired in the same account as the covered security, the amount received with respect to the grant or paid with respect to the acquisition of such option shall be treated as an adjustment to gross proceeds or as an adjustment to basis, as the case may be. ‘‘(2) L APSE OR CLOSIN G TRANSACTION.—In the case of the lapse (or closing transaction (as defined in section 1234(b)(2)(A))) of an option on a specified security or the exer- cise of a cash-settled option on a specified security, reporting under subsections (a) and (g) with respect to such option shall be made for the calendar year which includes the date of such lapse, closing transaction, or exercise. ‘‘(3) P ROSPECTI V E APPLICATION.—Paragraphs (1) and (2) shall not apply to any option which is granted or acquired before January 1, 2013. ‘‘(4) DEFINITIONS.—For purposes of this subsection, the terms ‘covered security’ and ‘specified security’ shall have the meanings given such terms in subsection (g)(3).’’. (3) EXTENSION OF PERIOD FOR STATEMENTS SENT TO CUS- TOMERS.— (A) IN GENERAL.—Subsection (b) of section 6045 is amended by striking ‘‘January 31’’ and inserting ‘‘February 15’’. (B) STATEMENTS RELATED TO SUBSTITUTE PA Y MENTS.— Subsection (d) of section 6045 is amended— (i) by striking ‘‘at such time and’’, and (ii) by inserting after ‘‘other item.’’ the following new sentence: ‘‘The written statement required under the preceding sentence shall be furnished on or before Deadlin e .
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