Confused about E*TRADE unrealized gains
Confused about E*TRADE unrealized gains
I transferred 50K from vanguard to E*Trade to get one of their transfer bonuses. What confuses me is that when I look at unrealized gains section, the entire $50K was marked as such. Did transfer from Vanguard to E*Trade mess something up? I definitely don't have 50K unrealized gains and I don't want it to be marked as such for taxes.
- retired@50
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Re: Confused about E*TRADE unrealized gains
Maybe the cost basis didn't transfer properly, so they are assuming a zero cost basis, which would make the whole account a "gain". Something to look into...Blue456 wrote: ↑Sat Feb 06, 2021 7:11 pm I transferred 50K from vanguard to E*Trade to get one of their transfer bonuses. What confuses me is that when I look at unrealized gains section, the entire $50K was marked as such. Did transfer from Vanguard to E*Trade mess something up? I definitely don't have 50K unrealized gains and I don't want it to be marked as such for taxes.
Regards,
If liberty means anything at all it means the right to tell people what they do not want to hear. -George Orwell
Re: Confused about E*TRADE unrealized gains
When did you do the transfer? Basis info can be delayed in transfer.
Re: Confused about E*TRADE unrealized gains
This happened to me too. I contacted E*Trade and they contacted the donor fund company (I assume) and got the cost basis updated.
Re: Confused about E*TRADE unrealized gains
Do you know the correct basis? You are not bound to go by what your brokerage reports, if their figures are wrong.
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Re: Confused about E*TRADE unrealized gains
In the past I had minor issues with transferring to ETrade and cost basis. It was resolved after a week or two with a quick email to my rep, but I'm not sure why they have this issue. I've done a number of transfers in the last couple of years for bonuses and ETrade is the only brokerage that I've had to follow up about cost basis.
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Re: Confused about E*TRADE unrealized gains
In the past, I was able to edit the cost basis on my in-kind transfers to E*Trade. I’m not sure if that’s still an option since all my holdings are up to date.