u/Exciting_Kangaroo800

I’m looking to move a large position in SWPPX (Schwab S&P 500) from Schwab to Fidelity via an in-kind transfer.

Right now, Schwab has my cost basis set to Average Cost, which I don’t want, but they won't let me change it for my existing shares. I've held these since 2018 and I have never sold a single share.

If I move the fund to Fidelity:

1. Will the individual lot data (original dates and purchase prices) actually transfer over?
2. Once the shares are at Fidelity, will I be able to switch the method to Actual Cost / Specific ID so I can pick which lots to sell later?

Basically, I'm trying to figure out if transferring to Fidelity is a "fix" to get away from Average Cost. I just want to make sure I won't be stuck with the average basis forever if I jump ship. Thanks!

I’ve been buying SWPPX for the last seven years in a Schwab brokerage account. Just realized this week that my cost basis method was set to average cost.

I asked them to change it to tax lot optimizer, but they told me it only applies to new purchases not the shares I already own. I’ve called three times and gone back and forth on this and they’re basically saying there’s no way to retroactively change it unless the account was opened within the last year. This is even though I’ve never sold any shares.

At this point I’ve pretty much given up on getting them to fix the historical shares.

So now I’m trying to figure out if there’s any workaround.

For example could I open a new Schwab account, set the cost basis method to tax lot optimizer, and transfer the shares over?

Or if I opened an account at Vanguard or Fidelity and transferred the shares there would that let me change the method on the existing shares?

Curious if anyone has dealt with this and found a way around it.