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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.

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

  1. Click Reports > Tax > Position Transfer Basis.

If you have a multiple account structure such as an institution account or multiple linked accounts, use the Account Selector at the top of the page to select an account.

The Account Selector is closed once you select an account. To change the selected account, click the tab to open the Account Selector, and then click a different account.

  1. If there are eligible transactions, select a transfer date from the list, then click Continue.

  1. Update the cost basis for your transfer:
  1. Click the Edit link to break the position into multiple purchase dates and times.
  2. Click Continue to submit your cost basis update.