Intelacyname

Updated cost basis in brokerage account

Hi, I recently transferred my securities from Fidelity to Robinhood (looks like it’s a mistake!) and my cost basis for those transferred securities hasn’t been updated in my Robinhood account (shows NA in app/website). And their representative said the cost basis would not be available for transferred securities (which is incorrect as few of my transferred securities did have the updated cost basis). Having an updated cost basis is important to view the gains/loses real-time even though the 1099 would have this. Learnt my lesson and planning to move out of Robinhood and looking to explore IBKR. If I transfer out all my securities, would IBKR report out my updated cost basis correctly? Thanks! TC: 200k #investments #personalfinance

PayPal ppblindd Jul 26, 2022

Why did you move out from Fidelity?

IBM <0D3r Jul 26, 2022

Bump

Intel acyname OP Jul 26, 2022

The intent was to have all my securities in one account! Yes, it’s a mistake.

Google EENNGG Jul 27, 2022

To be fair other brokerage don’t necessarily fix/correct your cost basis as well.