Cobra Clients Receive New Account Numbers
During the week of October 15, 2018, Cobra changed their back office system from Wedbush Beta to Wedbush Sungard. We were informed that Cobra clients received new account numbers for their existing Cobra accounts and will receive separate 1099-B statements for each account number.
Since you will be receiving two separate 1099-B statements from Cobra - one for each account number - you may find it most practical to keep the data from each account in its own account tab. Here is how you handle this in TradeLog:
Import transaction history from the old account to the date you received the new account number.
Verify all open positions are correct at date of account number switch (Verify Open Positions).
Click Account, Transfer (Transferring Open Positions in Multi-Account File-or-
if you are in the Open Positions window, click the Transfer Open Positions button on the toolbar.
A warning dialog will appear asking, "Are you sure you want to transfer open positions?" Click Yes to proceed or No to cancel.
An additional box will prompt you to Create New Account or Select Existing Account.
Select the Create New Account radio button.
The Account Setup box will pop up. Enter your new account information in all required fields and click OK.
TradeLog will now add a tab in the main grid containing your new account and transferred open positions.
- Continue importing trade history using the new account number.