Thank you for this information. I would have not moved assets to Kraken had I known this.Kraken support told me that Alpaca -- the clearing firm behind Kraken -- is currently not part of the Cost Basis Reporting System (CBRS), which automatically facilitates transfers of cost basis information. Kraken told me to ask the contra broker (in my case, Robinhood) to email the cost basis information directly to TaxReporting@alpaca.markets. I was able to get Robinhood to do that after a second attempt.
Click any investment and look at the balance, average price, and cost basis.
Mine still isn't accurate after 29 days. They said to message them on day 30. So tomorrow I'll reach out again
I also corresponded with Alpaca, and they confirmed receiving the cost basis info from Robinhood. However, they can only record the average price for the shares received. They said once they're up and running with CBRS, they should be able to go back and enter each individual tax lot to preserve the full cost basis information, although no timeline has been provided.
I thought brokers were required to transfer and maintain cost basis information on a per-tax lot basis for covered shares, so I'm surprised they don't participate in CBRS and aren't proactively transferring cost basis information for new assets received via ACATS -- at least for now. Alpaca's website suggests that they do transfer cost basis info for their direct customers, so maybe they just haven't implemented that for Kraken customers yet.
What happens if I actually sell some of the shares I moved to Kraken? What cost basis would Alpaca use?
Statistics: Posted by UncleLeo — Mon Oct 20, 2025 8:03 pm — Replies 11677 — Views 2249880