Yes it is a total transfer as if I had a basket of widgets in my
kitchen, picked it up and placed it in my neighbor's kitchen. The
widgets didn't change, only the storage location.
I'm able to log into the new broker's website and see the entire history
of each fund since I first purchased shares even though I've only been
with the broker for a week. There just doesn't seem to be a good method
for handling something like this or at least not one that is obvious.
Even if there's some kind of hackery/kludgery needed it would be useful
to know how that works and maybe could be addressed as part of a future
feature request. As I mentioned before it's academic because I don't use
Gnucash's reports to perform any critical tasks like tax computations
but if someone has done it in a way that worked I'd really like to know.
On 2023-07-06 19:09, R Losey wrote:
If it's truly some kind of rollover, Gnucash does allow an exchange of
shares without a price. But I don't know how you'd keep the cost basis in
the new account.
On Wed, Jul 5, 2023 at 5:49 PM David Carlson <david.carlson....@gmail.com>
wrote:
AC,
Yes, to keep GnuCash happy you want to transfer the cost basis as well as
the securities to the new brokerage account. By entering the transactions
as a sale at the same price that you purchased the the security and a new
purchase at that same price, you are transferring the cost basis, Since
that is not a real sale, there is no realized gain or loss to report to the
taxman until you really do sell
If you didn't transfer the cost, then GnuCash would think that the old
account still had a cost for a now non-existent asset and the new account
got the security free. You may have to provide that same information to
your broker or custodian if they didn't get it automatically.
On Wed, Jul 5, 2023 at 3:31 PM AC <gnuc...@acarver.net> wrote:
Answering two at once:
Fred: No I did not work in split view. I was just working at the single
account level.
David: Are you saying I need to instruct GnuCash to treat the transfer
as a sale even though there was no sale thus no realized gains/losses
and no actual change in the cost basis?
On 2023-07-05 10:07, David Carlson wrote:
AC,
Fred implied, but didn't elaborate on the point that the shares in the
original brokerage account had a cost basis that was incurred when they
were purchased. When you transfer them out, that is equivalent to a
sale
or closing transaction, and the cost basis should be adjusted
accordingly,
even though there were no funds involved. Of course, that exact cost
basis
needs to be added to the receiving account as if the shares were
purchased
at the original price. This used to be described in great detail in
one
of
the help manuals, including the somewhat tricky procedure to enter
realized
gains when an actual sale happens but I haven't checked lately to see
if
those parts are still there. I know that if you do not do those things
and
later run a trial balance or if you use the Investment Portfolio
report,
you will quickly see the error of your ways.
On Wed, Jul 5, 2023 at 11:33 AM Fred Bone <f...@mandfb.me.uk> wrote:
On 04 July 2023 at 16:29, AC said:
I recently moved some mutual funds from one brokerage to another. The
process did not involve a sale, it was just a transfer of control
from
the
old to the new.
In my current books I keep mutual funds listed as subaccount under
each
brokerage as such with their respective security/currency:
Investments
-Brokerage 1 (currency)
--Fund A (security A)
--Fund B (security B)
-Brokerage 2 (currency)
--Fund A (security A)
--Fund C (security C)
--Fund D (security D)
I wanted to expand this to add the new brokerage and then perform a
transfer of the funds from one to the other. Let's assume I moved the
funds under Brokerage 1 to Brokerage 3. So the tree would look like
the
simplified version below (leaving out Brokerage 2 as it is
unaffected):
Investments
-Brokerage 1 (currency)
--Fund A (security A)
--Fund B (security B)
-Brokerage 3 (currency)
--Fund A (security A)
--Fund B (security B)
The securities are the same because it's the same original mutual
funds,
just moved to another brokerage. The tree would be left intact with
the
funds under Brokerage 1 being zeroed out and the funds under
Brokerage
3
starting off with the incoming values.
My natural tendency was to create a transfer directly within
Brokerage
1
Fund A that moved all the shares over to Brokerage 3 Fund A but that
didn't create the transaction I expected.
By example, I transferred Fund A on July 1 which contained 10 shares
at
the price of the shares on that day. So in Brokerage 1 I entered -10
shares with a total sell price of X as listed on the statement from
Brokerage 1. The price is autocalculated and the balance correctly
goes
to
zero.
Looking inside the Brokerage 3 Fund A account I only see a
transaction
that has an amount in the buy column but no shares and a balance of
zero.
I can manually enter the same number of shares in that partially
empty
transaction but why was my thought about the transfer incorrect?
Should
it
have not transferred those shares over as well?
Did you work in split view?
I can replicate what I think you are saying if I don't enter the
separate
splits.
If I go about it the obvious way (in split view) and enter balancing
amounts then it all works.
However, I'm still on 2.6.21 ...
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