In Kind Transfer Question

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In Kind Transfer Question

Postby mmicha » Sat Mar 23, 2013 2:45 pm

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Last edited by mmicha on Mon Jun 03, 2013 2:32 pm, edited 1 time in total.
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Re: In Kind Transfer Question

Postby dbr » Sat Mar 23, 2013 2:59 pm

I think gains on "covered" shares move and those on "uncovered" shares might not.

It may be possible to enter the correct basis manually; it can at some brokers.

Prior to current law on basis reporting losing track of the basis when changing brokers was probably par for the course and a reason for every investor to keep good records of their own.
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Re: In Kind Transfer Question

Postby mmicha » Sun Mar 24, 2013 12:48 pm

dbr wrote:I think gains on "covered" shares move and those on "uncovered" shares might not.

It may be possible to enter the correct basis manually; it can at some brokers.

Prior to current law on basis reporting losing track of the basis when changing brokers was probably par for the course and a reason for every investor to keep good records of their own.


Actually after reading what you said, and looking there is a section that includes cost basis and the stats for short/long gains.
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Re: In Kind Transfer Question

Postby Default User BR » Sun Mar 24, 2013 2:46 pm

Assuming it was an ACATS transfer, sometimes cost basis will show up later. If not, most custodians will update the basis if you have the information to send them.


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Re: In Kind Transfer Question

Postby tryingtoInvest » Mon Mar 25, 2013 1:15 pm

I just transferred my brokerage account to Vanguard and had the same question since my cost basis did not transfer for uncovered shares.
You cannot manually input them - I am not sure why Vanguard did not request the cost basis form as part of the transfer.

Here is the response that I got:

Our cost basis tool no longer offers the ability for you to update or enter
cost basis information for your unallocated securities. You will have to
maintain your own cost basis records for shares that we don't have cost
basis information on. We apologize for the inconvenience this may cause
you.

Alternatively, you can contact the delivering firm and request that it
sends Vanguard a transferred cost basis statement. If we receive the
statement directly from the firm, we can allocate the noncovered shares.
The statement can be sent to us by fax at 484-582-4544 or by mail to:

Vanguard Brokerage Services
P.O. Box 1170
Valley Forge, PA 19482-1170


Hope that helps.
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