How do I transfer shares from one account to another
Melvyn Litvin
How do I transfer shares from one account to another?
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 dwg on Feb 15, 2022 @ 09:20 PM
I'm a fellow user.
You cannot just move shares from one account to another. Moneydance is based on accounting hence you can only move funds between accounts, hence to move share you would need to move all transactions that relate to those shares to another, and I do not see a way of necessarily being able to identify them all from a program perspective. In your other post Stuart explained how you can move everything from one account to another, but it does mover everything and you cannot identify one stock in particular.
A typical approah that has been used is to use a sell transaction at the cost price, transfer the funds to the other account then do a purchase at the cost price. This maintains the capital value correctly, does not show as a capital gain but looses performance history.
Various methods have been discussed to deal with this but none have come to light. A way I think may work would be if the reports were changed to use the tax date and the tax date field was used to record the original purchase date. I think that could solve the reporting problem while still ensuring that Moneydance complies with accounting rules.
2 Posted by Melvyn Litvin on Feb 16, 2022 @ 12:05 PM
Dear dwg
Thank you for this.
It was very helpful.
I will probably pick the second paragraph option in your e-mail, as it
seems to have less downsides than the other alternatives.
Melvyn Litvin
System closed this discussion on May 18, 2022 @ 12:10 PM.