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Author: JeanDavid Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121144  
Subject: Re: Tax handling of gifts under the annual exemp Date: 3/25/2014 10:20 AM
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It would be ludicrous if Fidelity does not carry it over. I will check with him.

When I convert shares from Ameritrade IRA to my Ameritrade Roth-IRA, they lose the cost basis and set it to 0. Does not matter much, but a nuisance.

When I take shares from my Ameritrade IRA (as part of Minimum Required Distribution) and put them into my Ameritrade Margin account, they lose the cost basis as well, setting it to zero. This is worse because I need the cost basis on the day of the transfer for future tax purposes, and the confirmation slip does not include the value at the time of the transfer. And looking up the prices on the day of the transfer do not help because I never know the exact minute the transfer happened.

As it is, this year, I took the rest of my MRD by transferring 100 shares of stock. And later, I found out that I must still take another $51 from my IRA to satisfy my MRD. So I should now be able to calculate the price. But I should not have to do that.
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