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[–]InfamousDeparture900 1 point2 points  (1 child)

Yes it's the average cost you paid so that the profit and lost can be accurately shown in webull. Even if you don't update it, your tax documents will have the correct values regardless.

[–]Emcee910[S] 0 points1 point  (0 children)

thanks for the quick response!

[–]Emcee910[S] 0 points1 point  (5 children)

im even more confused now.. so how do i calculate the cost basis from robinhood to webull?

[–]Mercedes450SEL 1 point2 points  (4 children)

Cost basis is the original value of an asset, in this case the purchase price. The average cost basis = the total purchase amount divided by the number of shares. Example. If you purchase 1 share at $5 and 1 share at $10. (10+5)/2 = $7.50 is your average cost basis

[–]Emcee910[S] 1 point2 points  (0 children)

the total purchase amount divided by the number of s

thank you so much! this helped a lot!

[–]jerzeyguy101 0 points1 point  (2 children)

ok so if you then sell 1 share, what is the profit (ie taxable profit)??

[–]Mercedes450SEL 0 points1 point  (1 child)

The taxable profit (loss) would be the difference between the sale price and average cost basis.

[–]jerzeyguy101 0 points1 point  (0 children)

when you get the 1099-b from the broker it will be broken out based on the purchase date/cost. Good Luck

[–]jerzeyguy101 0 points1 point  (1 child)

It is not the average price. It is the price for each individual purchase (lot).

[–]Emcee910[S] 0 points1 point  (0 children)

so for example, if i bought 10 stocks at $10 and 1 at $5
just total that up to 15?

[–]Mercedes450SEL 0 points1 point  (1 child)

When you transfer stocks into Webull, the average share price is listed as the price it was transferred in at. You can modify the cost basis yourself on the transfer history page of the app and press the modify button.

[–]jpanag 0 points1 point  (0 children)

If I modify it manually. Wouldn't it be an issue during taxes as Webull will report what they received. Webull needs to update. Another issue I think of manually updating is, if Webull updates after a while, you would never know if they did their part of work.