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Transfering stocks from one brokerage to another?

Michael3442

I would like to transfer stocks out of one brokerage and into another. If I do this, will I lose historical information that I need (for taxes) or will my original purchase be recorded? What about stock splits that happen along the way, how is that handled? All thoughts welcome!

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q_lurker

Option 1: If the receiving brokerage is new and the old brokerage is going away …

Disable the online connectivity to the old account (if applicable)
Change the FI to the new brokerage
Enable the connectivity to the new brokerage (if applicable).
Add a reminder transaction that you changed brokerages.

Option 2: Use a Shares Transferred action (Enter Transactions) to move all lots of all securities from the old account to the new account all basis and acquisition dates will be transferred.

Michael3442

Thanks, lurker. What does FI refer to? And, what about an ACATS transfer.

q_lurker

FI = Financial Institution

ACATS - What about them? Under option 1, when those transactions get downloaded you simply delete them; you are processing as if no transfers took place. Under option 2, the downloaded transactions may or may not be adequate, they likely don’t have basis and acquisition dates. As such, I have generally deleted the downloaded versions.