Op, this happened to me a couple of years back when I moved from Vanguard to Fidelity and the basis did indeed update to the correct values at some point over the next week or two - If you already haven't done it, I would give it another week or so and circle back with Fidelity if you need to. download and save your original basis from Vanguard so that you have itUnfortunately Vanguard messed up all the cost basis sent to Fidelity and have to deal with this now![:oops:]( "D'oh")
What Vanguard has done is sent over the lots correctly (Purchased date and Quantity) but each lot has the same cost which is the averaged cost computed (i.e. Total Cost / Quantity ). Obviously if each lot was purchased on a different date they can't have the same cost, makes no sense.
I had 4 mutual funds transfer and 1 ETF. Strangely the ETF SpecID info came in correctly.
Fidelity is telling me that this happens with Vanguard sometimes and to wait 2 weeks for the cost basis to update. If not it will be a manual process where I will have to download statements etc. and upload my entire history spanning several years. There has to be a better way than doing this. Anyway I will wait and see what happens. Anyone else experience something like this?
Statistics: Posted by life in slices — Mon Feb 05, 2024 11:49 am — Replies 30 — Views 2743