Cost Basis Corrections

My cost basis is wrong. How do I fix it?

Before sending a request to adjust your cost basis, please see Cost basis explained. Several factors need to be considered:

1. Average cost

On all Webull platforms, your cost basis will reflect as an average cost. Specific tax lot visibility is not available at this time. You can confirm your cost basis of specific tax lots via your account statements and tax forms. To locate these documents, please navigate to Locating account statements and trade confirmations.

2. Corporate actions and events

Corporate actions, such as stock splits, reverse splits, dividends, mergers, acquisitions, spin-offs, and rights offerings, can all affect the cost basis of your investments. To learn more about how specific events can influence your cost basis, please click here.

3. Wash sales

A wash sale occurs when you sell a security at a loss and then repurchase the same or a substantially identical security within 30 days before or after the sale. For tax purposes, the IRS disallows the deduction of the loss from a wash sale. Instead, the loss is added to the cost basis of the repurchased security, thus impacting your cost basis. For more information about wash sales, please visit Understanding wash sales.

4. Cost basis not received

When a transfer is made from one firm to another, cost basis information usually arrives within 10-15 business days after the transfer is completed. If you do not receive this data, your cost basis may appear incorrect. To ensure your cost basis is accurate, please contact the delivering firm to request an adjustment or a resend of the cost basis information.

To send in a request for a cost basis review or adjustment, please send a message via the in-app Help Center.