The Position Transfer Basis (Broker Transfers) page lets you specify the cost basis for positions transferred into your IB account using ACATS (Automated Customer Account Transfer Service) or ATON (Account Transfer Online Notification). 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 Page?
To specify the position transfer basis for an ACATS or ATONS transfer
Click Report
Management in the left pane, then click Position
Transfer Basis.
You can run this report only if you have eligible ACATS or ATON transactions.
If there are no eligible ACATS or ATON transactions, the page displays
a message to that effect. Clicking Back displays
the Account Management Home page for your account, and displays any
pending items.
If there are eligible ACATS or ATON transactions, the following page
opens:
Select an ACATS or ATON transfer date
from the list, then click Continue.
The following page opens:
Update the cost basis for your ACATS or ATON transfer:
Enter the number of shares or contracts for the position in the Quantity field.
Enter the date of purchase for the position in the Date field.
Enter the total cost basis for the entire position in the Total Cost field.
Click the Edit link to break the position into multiple purchase dates and times.
Click Continue to submit your cost basis update.