RunningBum
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jun 18, 2007
- Messages
- 13,236
I have a mix of shares in a Vanguard fund that I sold some shares of on 4/22. I have some old noncovered shares which have a gain, and some new covered shares, some of which have a gain, and others from 2014 and 2015 purchases at a loss.
When I sold, I was presented with the shares to select. I chose all of the 2014 and 2015 shares, and nothing else, intending to take the loss.
I look today, and those shares are still available under "Unrealized gains and losses". I thought it probably just hadn't settled yet, but when I looked under "Realized gains and losses", I had a fairly large gain. Selecting details, it shows the 4/22 transaction, and says it used FIFO as the cost basis.
I know for certain I did not select FIFO and I checked my cost basis method under account maintenance and it says Specific ID.
Just to verify there wasn't some confusing option, I started another transaction, and to use FIFO I would have to either select the "Change Cost Basis" link, or I would've had to have put the exact number of shares I bought in 2014 and 2015 in the box for the noncovered shares. I know for certain I did neither. I never really paid attention to the number of shares being sold. I just clicked on all the losers, noticing they were all from 2014 and 2015, and looked at the total estimated proceeds and decided that was what I wanted.
Has anyone seen this? Will this get resolved on the settlement date? Even if so, that's alarming and disturbing, and if I were to try to sell more shares today I would not have the correct option of shares to select to sell.
Or does Vanguard always sell noncovered shares first until those are exhausted, ignoring your SpecID designation?
I have an email into my Flagship rep. Just wondering if anyone else has seen this and can confirm that it will be resolved, or if they can adjust the cost basis method post-sale.
When I sold, I was presented with the shares to select. I chose all of the 2014 and 2015 shares, and nothing else, intending to take the loss.
I look today, and those shares are still available under "Unrealized gains and losses". I thought it probably just hadn't settled yet, but when I looked under "Realized gains and losses", I had a fairly large gain. Selecting details, it shows the 4/22 transaction, and says it used FIFO as the cost basis.
I know for certain I did not select FIFO and I checked my cost basis method under account maintenance and it says Specific ID.
Just to verify there wasn't some confusing option, I started another transaction, and to use FIFO I would have to either select the "Change Cost Basis" link, or I would've had to have put the exact number of shares I bought in 2014 and 2015 in the box for the noncovered shares. I know for certain I did neither. I never really paid attention to the number of shares being sold. I just clicked on all the losers, noticing they were all from 2014 and 2015, and looked at the total estimated proceeds and decided that was what I wanted.
Has anyone seen this? Will this get resolved on the settlement date? Even if so, that's alarming and disturbing, and if I were to try to sell more shares today I would not have the correct option of shares to select to sell.
Or does Vanguard always sell noncovered shares first until those are exhausted, ignoring your SpecID designation?
I have an email into my Flagship rep. Just wondering if anyone else has seen this and can confirm that it will be resolved, or if they can adjust the cost basis method post-sale.