Hi, I recently transferred my securities from Fidelity to Robinhood (looks like it’s a mistake!) and my cost basis for those transferred securities hasn’t been updated in my Robinhood account (shows NA in app/website). And their representative said the cost basis would not be available for transferred securities (which is incorrect as few of my transferred securities did have the updated cost basis). Having an updated cost basis is important to view the gains/loses real-time even though the 1099 would have this. Learnt my lesson and planning to move out of Robinhood and looking to explore IBKR. If I transfer out all my securities, would IBKR report out my updated cost basis correctly? Thanks! TC: 200k #investments #personalfinance
To be fair other brokerage don’t necessarily fix/correct your cost basis as well.
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Why did you move out from Fidelity?
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The intent was to have all my securities in one account! Yes, it’s a mistake.