Why is the cost basis wrong for my new shares after a Spin Off?

UPDATE COST BASIS FOR TRANSFERRED SECURITIES

When securities are transferred to your account, cost basis information (acquisition date and price) may not arrive immediately. Until this information is received:…

The cost basis of a security may change due to a corporate action such as stock split, spin-off, return of capital or a merger resulting in a change in share quantity. The cost basis will also change (increase) in the event of a wash sale. Other actions which can change the cost basis of your position include a dividend reinvestment or other addition to the share position (e.g., purchase or option exercise)…

Learn about tax lots, multiple transactions, and how total costs are calculated when entering cost basis information for your transferred securities.

What is a lot?…

UPDATE COST BASIS FOR TRANSFERRED SECURITIES

The cost basis information associated with Plan d'épargne en actions (PEA) transferred positions (e.g., acquisition date and price) will not be automatically provided from the delivering institution during your PEA Account Transfer. Client will have to update the cost basis in Client Portal if required. Please reach out to the delivering institution in case confirmation of cost basis for the transferred positions is required. If the cost basis is not updated, then positions will be assigned with default cost basis values where the acquisition date is set to the date of transfer and the cost to the closing price of the security on the date of transfer…