Nice surprise from Computershare after transfer to VG

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Post Reply
Topic Author
Housedoc
Posts: 455
Joined: Thu May 24, 2018 4:25 pm
Location: Alabama

Nice surprise from Computershare after transfer to VG

Post by Housedoc » Sat Nov 02, 2019 10:57 am

I had many shares of company stock I bought through ESPP back in the 80's and 90's. All noncovered shares.
I had most of the documentation on the cost basis so I figured no big deal at time I will sell them, just average in a few to known good dates. I recently transferred my wife's and my shares to VG to simplify things in the future. In the mail the other day I get a cost basis for each share(s) purchased, dates, etc of all the shares. Nice it is in just a few pages vs my records of a stack of papers. Numbers checked out when compared to my records. Another part of my life simplified.

User avatar
David Jay
Posts: 7276
Joined: Mon Mar 30, 2015 5:54 am
Location: Michigan

Re: Nice surprise from Computershare after transfer to VG

Post by David Jay » Sat Nov 02, 2019 4:13 pm

Every once in a while Murphy falls asleep at the switch... Nice to get a pleasant surprise.
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius

Grasshopper
Posts: 1008
Joined: Sat Oct 09, 2010 3:52 pm

Re: Nice surprise from Computershare after transfer to VG

Post by Grasshopper » Sat Nov 02, 2019 5:13 pm

Not to be mean spirited, but I was never that lucky when I transferred some drips into VG. I had my own numbers but would have liked a CS hard copy when it came to LTCG and STCG.

student
Posts: 4133
Joined: Fri Apr 03, 2015 6:58 am

Re: Nice surprise from Computershare after transfer to VG

Post by student » Sat Nov 02, 2019 6:19 pm

Congratulations. It is good that it works out well.

inbox788
Posts: 6645
Joined: Thu Mar 15, 2012 5:24 pm

Re: Nice surprise from Computershare after transfer to VG

Post by inbox788 » Sat Nov 02, 2019 7:17 pm

You've very lucky. I'm guessing it's the outbound company that's mostly responsible. I just transferred one lot to Fidelity and the cost basis didn't make it. It wasn't too hard to manually enter just one cost basis at Fidelity (though it did take about a day to process and update), and I hope they use it when reporting 1099s. I also transferred some shares to another Fidelity account. I was impatient and didn't wait till the cost basis was confirmed, but was pleasantly surprised a bit that the cost basis was updated correctly and the Fidelity to Fidelity share did carry over my manually entered cost basis.

rossington
Posts: 312
Joined: Fri Jun 07, 2019 2:00 am
Location: Florida

Re: Nice surprise from Computershare after transfer to VG

Post by rossington » Sun Nov 03, 2019 2:54 am

Did you get the basis information from Computershare or was it transferred to Vanguard and they sent it to you?
"Success is going from failure to failure without loss of enthusiasm." Winston Churchill.

User avatar
tricon23
Posts: 19
Joined: Sun Jun 23, 2019 5:33 pm

Re: Nice surprise from Computershare after transfer to VG

Post by tricon23 » Sun Nov 03, 2019 7:04 am

My wife has the same thing that we transferred to ME. We moved out of Computershare to do the same thing simplify things but have not received any tax statements from them. It looks like logging in I find;
Covered Cost Basis: $25,094.27 with Non Covered as $15,140.20 what would we expect for this year when filing taxes?

Topic Author
Housedoc
Posts: 455
Joined: Thu May 24, 2018 4:25 pm
Location: Alabama

Re: Nice surprise from Computershare after transfer to VG

Post by Housedoc » Sun Nov 03, 2019 7:46 am

The documents came from Computershare.

DrCheese
Posts: 46
Joined: Wed Apr 19, 2017 2:20 pm

Re: Nice surprise from Computershare after transfer to VG

Post by DrCheese » Sun Nov 03, 2019 8:01 am

inbox788 wrote:
Sat Nov 02, 2019 7:17 pm
I hope they use it when reporting 1099s.
Nope, self inputted data is never reported to the IRS.

inbox788
Posts: 6645
Joined: Thu Mar 15, 2012 5:24 pm

Re: Nice surprise from Computershare after transfer to VG

Post by inbox788 » Sun Nov 03, 2019 12:53 pm

DrCheese wrote:
Sun Nov 03, 2019 8:01 am
inbox788 wrote:
Sat Nov 02, 2019 7:17 pm
I hope they use it when reporting 1099s.
Nope, self inputted data is never reported to the IRS.
These trades are from over 20 years ago, so I hope you're wrong or they change things. I've read you should keep 3 or 7 years of tax records, but keeping brokerage and transaction records nearly forever is a long time. Can't wait till the day I sold off everything I've bought before 2012 or plan to keep for the heir step up basis and don't ever have to track cost basis anymore.

Another reason not to accumulate a bunch of individual stocks from these active managers or roboadvisors, even if they're keeping track of them, it will be challenging to transfer them and move them around in the future.

DrCheese
Posts: 46
Joined: Wed Apr 19, 2017 2:20 pm

Re: Nice surprise from Computershare after transfer to VG

Post by DrCheese » Mon Nov 04, 2019 8:21 am

inbox788 wrote:
Sun Nov 03, 2019 12:53 pm
DrCheese wrote:
Sun Nov 03, 2019 8:01 am
inbox788 wrote:
Sat Nov 02, 2019 7:17 pm
I hope they use it when reporting 1099s.
Nope, self inputted data is never reported to the IRS.
These trades are from over 20 years ago, so I hope you're wrong or they change things. I've read you should keep 3 or 7 years of tax records, but keeping brokerage and transaction records nearly forever is a long time. Can't wait till the day I sold off everything I've bought before 2012 or plan to keep for the heir step up basis and don't ever have to track cost basis anymore.

Another reason not to accumulate a bunch of individual stocks from these active managers or roboadvisors, even if they're keeping track of them, it will be challenging to transfer them and move them around in the future.
Self reported data is not reported to the IRS as anyone can make anything up.

Fidelity does show your self report data on the 1099 to help you do your taxes however it is clearly marked that this data is not sent to the IRS.

Post Reply