ACATS money market fund [brokerage transfer - cost basis?]

[runr]

I ACATS VUSXX out of VG and into FIDO, but I didn't get the cost basis after 15 business days. Brokers in general still send that over even though it's a MMF right? I just didn't want to have to correct that when doing my taxes, when I sell.

[Rocinante Rider]

Cost basis is not applicable to money market funds that maintain a constant NAV of $1 per share.

[HueyLD]

I ACATS VUSXX out of VG and into FIDO, but I didn't get the cost basis after 15 business days. Brokers in general still send that over even though it's a MMF right? I just didn't want to have to correct that when doing my taxes, when I sell.

Have you called Fido?

Some brokerages do not accept MMFs from Vanguard.

[runr]

Cost basis is not applicable to money market funds that maintain a constant NAV of $1 per share.

I was wondering about that, so selling MMF does not generate a 1099-B and get reported to the IRS? I know I'll always get the 1099-DIV.

[runr]

I ACATS VUSXX out of VG and into FIDO, but I didn't get the cost basis after 15 business days. Brokers in general still send that over even though it's a MMF right? I just didn't want to have to correct that when doing my taxes, when I sell.

Have you called Fido?

Some brokerages do not accept MMFs from Vanguard.

Yep it did, they put in a request to VG, and FIDO accepts VUSXX.

[indexfundfan]

Cost basis is not applicable to money market funds that maintain a constant NAV of $1 per share.

I was wondering about that, so selling MMF does not generate a 1099-B and get reported to the IRS? I know I'll always get the 1099-DIV.

It depends on the combo. If you trade Fido MMFs on Fidelity or Vanguard MMFs on Vanguard, they do not go onto the 1099-B.

On the other hand, I sold FRSXX on Wells Fargo and they do appear on the 1099-B.

[RetiredAL]

Cost basis is not applicable to money market funds that maintain a constant NAV of $1 per share.

I was wondering about that, so selling MMF does not generate a 1099-B and get reported to the IRS? I know I'll always get the 1099-DIV.

Even if a 1099-B does get generated, you can always adjust the cost on the 8949 form. It's very unlikely that the IRS will question it, but just in case keep something that shows the old cost.