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Position Transfer Basis

The Position Transfer Cost Basis page lets you specify the cost basis for positions transferred into your account using ACATS (Automated Customer Account Transfer Service), ATON (Account Transfer Online Notification), or FOP (Free of Payment). Under the FIFO cost basis accounting method, a closing transaction is matched with the cost basis of the earliest transaction in the position to determine realized profit or loss. The FIFO cost basis method is used throughout the US for stocks, security options, single stock futures and Forex.

Who can access the Position Transfer Basis screen?

• Individual, Joint, Trust or IRA Account User
• Small Business Account User
• Friends and Family Group Master or Client
• Advisor Master
• Advisor Client
• Proprietary Trading Group Master
• Proprietary Trading Group Sub Account User
• Broker Master (master account only)
• Broker Fully Disclosed Client
• Investment Manager Master
• Fund

To specify the position transfer basis for an ACATS, ATON or FOP transfer

1. Click Reports > Tax. The Tax Reports screen opens.
2. In the Cost Basis Panel, click the Configure (gear) icon for Position Transfer.

   

   The Position Transfer Cost Basis screen opens.

   If there are no eligible transactions, there is nothing for you to do and you can exit this screen using the menu or breadcrumbs.

3. If there are eligible transactions, select a transfer date.

   

4. In the Edit Positions section, update the cost basis for ACATS, ATON or FOP transfers as described below:
   • Enter the number of shares or contracts for the position in the Quantity field.
   • Enter the date of purchase for the position in the Acquisition Date field.
   • Enter the total cost basis for the entire position in the Total Cost field.
   • Select a currency for the position. Available selectable currencies are the asset trading currency, your base currency and USD. For new tax lots, the asset trading currency is the default currency. The asset trading currency is displayed on the symbol row. For old tax lots that may not have a currency, USD is the default currency.
   • Optionally add a new tax lot by clicking Add Lot in the Action column.
   • Optionally delete a tax lot by clicking Delete in the Action column.
5. Click CONTINUE to submit your cost basis update.