Does cost basis normally transfer with asset transfer?

[fuzzy math]

I transferred my account out of Robinhood finally and the cost basis for all my stocks now seems to be the value on the day of the transfer. Is this something that should have transferred over? Is Robinhood's stupidity my gain? Am I somehow responsible for knowing the old data?

[Sandi_k]

Yes, you need to know your basis. Transferring kin kind doesn't change your purchase basis for tax purposes...

[fuzzy math]

Yes, you need to know your basis. Transferring kin kind doesn't change your purchase basis for tax purposes...

But would a better brokerage than Robinhood have transferred that info? Because it appears that Robinhood didn't.

[terran]

It usually moves over, but can take some time. I'd give it a week or two after the transfer completes before I got worried. I take a screenshot of the cost basis screen(s) before initiating a transfer. If you can still log in to Robinhood see if there's anything you can download like old statements from which you can reconstruct cost basis.

[seattlecyclone]

Tax law says the basis remains the same. Whether the brokerages successfully migrate that information is a different question. Keep good records.