Transfer of Securities
I am in the process of changing brokers for two of my investment accounts. Some of the securities I hold will be sold by the old broker, but most will be transferred in-kind to the new broker. I am trying to determine which transaction I should use to record these security transfers in Moneydance. The "transfer" transaction appears to transfer cash, not securities. Is there a way to do this without recording a sale in the old account and a purchase in the new account?
Comments are currently closed for this discussion. You can start a new one.
Keyboard shortcuts
Generic
| ? | Show this help |
|---|---|
| ESC | Blurs the current field |
Comment Form
| r | Focus the comment reply box |
|---|---|
| ^ + ↩ | Submit the comment |
You can use Command ⌘ instead of Control ^ on Mac
1 Posted by Henry on 07 May, 2018 04:25 PM
Hi Dave,
Thank you for contacting us.
I believe a way to do this is to enter a SellXfr in the source account and a Buy in the destination account. However it is important to enter these transactions at the original purchase price so as not to change your cost basis.
Henry
Infinite Kind Support
2 Posted by UxR on 12 May, 2018 06:15 PM
Hi Henry - whilst that works, it is not a convenient method for scenarios where one buys a security in regular interval for years (i.e., dollar cost averages) and then transfers it out.
If a proper share transfer could be implemented, I vote for it :).
3 Posted by Henry on 16 May, 2018 05:59 AM
There's an existing ticket in our ticketing system with your suggestion, so I've attached it to this discussion and the developers will be looking into it.
Henry
Infinite Kind Support
4 Posted by UxR on 16 May, 2018 10:04 PM
Many thanks Henry. Fingers crossed.
5 Posted by Stuart Beesley ... on 01 Jul, 2018 06:00 AM
I agree it’s a pain and there should be an enhancement. However, FYI, all you do is the SellXfr and Buy using the correct average cost at that point in time and your cost and gains will be correct.
6 Posted by UxR on 02 Jul, 2018 10:06 AM
Cheers. SellXfr and Buy back in the new account does work with the only downside being that it messes up the Annual ROI, which skyrockets. I can live with that for now.
System closed this discussion on 01 Oct, 2018 10:10 AM.