issue with loosing the costs basis on stock plan?

Google
mo247vf

Go to company page Google

mo247vf
May 14, 2020 6 Comments

I’m trying to move my prev company stocks plan account to individual brokerage account within etrade to avoid commission fee per trxn. i came to know that i would be losing the cost basis if I make the move and that would make my tax filling difficult. Is there a way to save the cost basis somehow to be able to file the taxes correctly? #personalfinance #investments

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TOP 6 Comments
  • New / Eng
    stoffel

    New Eng

    stoffel
    It should be pretty painless, and you wouldn’t have to lose your cost basis. Are these stocks common stocks in a public company?
    May 14, 2020 1
  • New / Eng
    stoffel

    New Eng

    stoffel
    Which broker did you want to send them to?
    May 14, 2020 1
  • Google
    eXqN07

    Go to company page Google

    eXqN07
    This is isn’t too difficult. From the original broker, download the cost basis information into a spreadsheet and/or download the trade confirmations associated with each vest. Then you can manually type in the cost basis at the new broker.

    Also Morgan Stanley is buying etrade. I would expect them to consolidate platforms in a year or two in any case.
    May 15, 2020 0
  • Roblox
    last_dance

    Go to company page Roblox

    last_dance
    You shoudn’t loose your cost basis when moving from one broker to another.
    May 14, 2020 0