I've long held mutual funds in a very simple index strategy. Currently, my son has just started index investing with Vanguard, except he purchased an ETF instead of a Mutual Funds. (Specifically, VTI). When setting up the account, I don't remember him having to declare his "cost basis method".
Is it correct to say that he will be prompted to establish his cost basis method when he tries to sell/exchange his VTI shares for the first time?
Is it correct to say there's a way, through is online account, that he can establish his cost basis method ahead of time before actually selling any shares? (I'm not asking for a tutorial, just want to know if it can be done before looking for it.)
And finally, with regards to cost basis method, is there anything I should be aware of with regards to how it might be different from my experience with Mutual Funds?
Thanks!
Is it correct to say that he will be prompted to establish his cost basis method when he tries to sell/exchange his VTI shares for the first time?
Is it correct to say there's a way, through is online account, that he can establish his cost basis method ahead of time before actually selling any shares? (I'm not asking for a tutorial, just want to know if it can be done before looking for it.)
And finally, with regards to cost basis method, is there anything I should be aware of with regards to how it might be different from my experience with Mutual Funds?
Thanks!
Statistics: Posted by bobsmith — Thu Aug 22, 2024 7:16 am — Replies 8 — Views 300