Just echoing that it is critical to make copies (electronic or paper) of all cost basis information before you move any share out of Computershare. Once your account is empty, it may be closed and the basis information won’t be accessible anymore.Moving the shares is not taxable.I have a prior employer ESPP account at Computershare (it was IBM). It contains two "groups" of shares. The first, I bought directly with payroll deduction, and the shares were discounted at least 15% when purchased. The second group is shares that have been purchased with dividends (from both groups) over the years. I'd like to transfer them to Fidelity or Vanguard (we have taxable and deferred accounts at both). Would this be a taxable event? I'm not sure what the cost basis looks like from the directly purchased shares, but it may be significant gains. I'd like to move them into existing accounts, but if this will trigger taxes this year, I'll wait until we're not qualifying for ACA assistance.
Thanks in advance...
If the purchases were made before 2011/12, they may not have been tracking cost basis. Or, they might have it but not transfer it to the new brokerage. You should download whatever you can from Computershare so that you can verify/update the basis once they're at Fidelity.
I'm not familiar with the process of moving shares out of Computershare. If they support ACATS, you'd start the process at Fidelity.
And moving shares in-kind isn’t taxable, as noted.
Statistics: Posted by delamer — Wed Jan 31, 2024 10:28 am — Replies 3 — Views 174