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Investment Account Manager Forum
March 19, 2019, 08:21:44 AM »
Transfer a Security to Another Portfolio
choice is used to transfer either a portion of a security holding or an entire position to another portfolio being tracked in Investment Account Manager. It can also be used to deliver holdings out of Investment Account Manager (i.e. to a charity). This feature provides the ability to assign the original cost basis to the transferred security, or to enter a market price of your choice to use for the adjusted (stepped up) basis for the transferred shares. The basis rules are dictated by the I.R.S.
From the Edit Menu, select Transfer a Security to Another Portfolio. Shown in the Transfer a Security form are all securities currently owned in the open portfolio, listing the total quantity and the current market value. Select the security you wish to transfer out of the 'donor' portfolio. Then, in the lower portion of this form, select the 'destination' portfolio for receipt of the transferred shares. If you are transferring the security to a portfolio not being tracked within Investment Account Manager, (i.e. to a charity, or other outside account), select the check box 'Transfer out of Investment Account Manager'.
Once the transferred security and the destination portfolio (or the choice Out Of Investment Account Manager) have been selected, you can complete the necessary information for the transfer activity. Investment Account Manager's transfer feature allows you to assign what values to use for the cost basis of shares transferred. Select the proper radial button to assign original cost basis and basis date for transferred shares, or to assign current market values as cost basis and transfer date for basis information (for inherited shares, gifts to charity, required distributions from non-taxable accounts). In most cases, the IRS requires the original cost basis and basis date be used for shares transferred. Check with a tax advisor or appropriate IRS publications as necessary.
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