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What happens if my other firm doesn’t provide cost basis? How do I provide cost basis?

 

If your shares are covered we can only accept the cost basis directly from your previous firm. Contact your previous firm and ask them to send your cost basis to Wealthfront through the Cost Basis Reporting Service (CBRS). If your previous firm cannot send your cost basis through the CBRS, have them email your cost basis to support@wealthfront.com (note that email will take longer for us to update your cost basis).

If your shares are noncovered you can report your cost basis to us directly. Upload a spreadsheet with the following information for each of your investment purchases (or each “tax lot”):

  • The ticker symbol of the investment
  • The number of shares you purchased
  • The date you purchased those shares
  • The price you paid for those shares (including any adjustments)

Upload the spreadsheet to your account here. We’ll update your cost basis and email you when the update is complete. We'll use the cost basis you provided to trade, but please note that all clients are responsible for verifying the accuracy of the cost basis when filing taxes.

 

 

Nothing in this blog should be construed as tax advice, a solicitation or offer, or recommendation, to buy or sell any security. Financial advisory services are only provided to investors who become Wealthfront Inc. clients pursuant to a written agreement, which investors are urged to read carefully, that is available at www.wealthfront.com. All securities involve risk and may result in some loss. For more information please visit www.wealthfront.com or see our Full Disclosure. While the data Wealthfront uses from third parties is believed to be reliable, Wealthfront does not guarantee the accuracy of the information.

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