Where to find your cost basis after you sell stock

Fidelity shows your cost basis in your account statements and in the Positions section of your account. After you sell a stock, the cost basis appears on your trade confirmation email and in your Account History. The easiest route is to log into your Fidelity account, go to Accounts, select the account where you sold the stock, then click History and find the sale transaction — Fidelity displays the cost basis, sale price, and gain or loss right there.

If you need a formal record for tax purposes, Fidelity generates a year-end tax document called Form 1099-B, which reports all your sales and their cost basis. You can also download individual trade confirmations from your email or from the History section. These documents show exactly what you paid for the shares and what you sold them for.

Key Takeaways

  • Your cost basis appears automatically on your trade confirmation email the day you sell stock.
  • Log into your account, go to History, and click on any sale to see the cost basis, sale price, and profit or loss.
  • Fidelity sends Form 1099-B at tax time, which lists all your sales and their cost basis for the year.
  • If you bought shares at different times, Fidelity uses a default method to calculate which shares you sold — you can change this method before you sell.

Understanding cost basis methods on Fidelity

When you own multiple shares of the same stock bought at different prices, Fidelity needs to know which shares you sold. The method you choose changes your cost basis and your tax outcome. Fidelity's default method is FIFO (first in, first out), which means the oldest shares you own are treated as the ones you sold first.

You can change your cost basis method before you sell. Go to the stock you want to sell, click Sell, and before you confirm the order, look for the option to select your cost basis method. Fidelity offers FIFO, LIFO (last in, first out), average cost, and specific lot identification. Specific lot identification lets you pick exactly which shares you want to sell, which is useful if some shares have larger gains than others.

Once you sell, the cost basis method you chose is locked in for that transaction. You cannot change it after the sale completes. This matters for taxes because different methods can result in different gains or losses on the same sale.

How to use specific lot identification to control your cost basis

If you want to sell shares with the lowest cost basis (to minimize your gain) or the highest cost basis (to maximize your loss for tax purposes), use specific lot identification. This method lets you choose exactly which shares you sell instead of letting Fidelity's default method decide for you.

When you place a sell order on Fidelity, select the option to identify shares by lot. Fidelity will show you each batch of shares you own, the date you bought them, the price you paid, and the current value. You then choose which lot or lots to sell. After you confirm the sale, Fidelity records that specific lot as sold and uses that cost basis on your confirmation and tax forms.

This method requires more steps than using the default, but it gives you control over your tax outcome. If you have a large gain in one lot and a small gain in another, you can sell the small-gain lot to reduce your taxable profit. Keep your trade confirmations, because they show which lot you sold and will match your tax records.

Reading your trade confirmation for cost basis details

Your trade confirmation email arrives within minutes of your sale and contains all the cost basis information you need. The email shows the number of shares sold, the price per share you received, the total proceeds, and the cost basis per share. It also shows your total gain or loss on the sale.

If you need to find an old confirmation, log into Fidelity, go to Accounts, select your account, click History, then Transactions. Find the sale date and click on the transaction. Fidelity displays the confirmation details on screen, and you can download or print it as a PDF. Keep these confirmations for at least three years in case the IRS asks questions about your sales.

Cost basis and inherited or gifted stock

If you inherited stock or received it as a gift, the cost basis rules are different. Inherited stock gets a stepped-up basis, which means your cost basis is the stock's value on the date the person died, not what they originally paid. This can significantly reduce your taxable gain when you sell.

Gifted stock keeps the original giver's cost basis. If someone gave you stock they bought for $50 and it is now worth $200, your cost basis is $50, not $200. When you sell it for $200, you owe tax on the $150 gain. Fidelity should have this information in your account, but if you inherited or received a gift, contact Fidelity to confirm the cost basis is correct before you sell.

Adjusting cost basis for stock splits and dividends

If the company split its stock or paid a dividend while you owned it, Fidelity automatically adjusts your cost basis. A stock split divides each share into more shares at a lower price per share, but your total cost basis stays the same. A dividend reinvestment adds new shares at the price on the dividend date, and Fidelity records those as a separate lot with its own cost basis.

You do not need to do anything — Fidelity handles these adjustments in the background. When you sell, Fidelity's cost basis calculation already includes all splits and reinvested dividends. If you want to verify the adjustment, check your account statements from the date of the split or dividend. Fidelity shows the old and new share count and the adjusted cost per share.

Frequently Asked Questions

Where do I find my cost basis if I sold stock years ago?

Log into Fidelity, go to History, and search by date or transaction type. Fidelity keeps trade confirmations and transaction history for at least seven years. Click on the sale to see the cost basis, or download the confirmation PDF. If you cannot find it online, contact Fidelity customer service with the stock name and approximate sale date.

Can I change my cost basis method after I sell?

No. The cost basis method is locked in when the sale completes. You can only choose your method before you sell. If you used FIFO by default and want to use a different method next time, change it before placing your next sell order.

What if Fidelity's cost basis does not match my records?

Contact Fidelity with your original purchase confirmations or statements. Fidelity can review your account history and correct the cost basis if there is an error. This is important because your tax return should match Fidelity's Form 1099-B, and discrepancies can trigger IRS questions.

Do I need to report cost basis to the IRS myself?

Fidelity reports your sales and cost basis to the IRS on Form 1099-B. You report your gain or loss on Schedule D of your tax return. The IRS receives the same information Fidelity sends you, so your numbers should match. If they do not, the IRS may contact you.