Transferring Out & Reporting Cost base of Transferred shares

[amsadl]

(Hi. First post I think. Been using Fund Manager for years and it's been great.)

I have a portfolio of shares jointly owned between myself and my wife.

I want to transfer half of each holding to my wife's sole name i.e. remove them entirely from the Fund Manager portfolio without triggering a capital gain event.

I can see that the Transfer Out function will do that for me and that it shows the cost base on the each screen dialogue.

Is there a way I can do the multiple transfers and give her one report of the cost base of the shares transferred to her?

[Mark]

Hi amsadl,

No, there isn't... Instead though, you might use the "Transfer Between" wizard. You can transfer all these shares to a new sub-portfolio. You can then run a Custom report with the field:

Tax basis, Assigned Method

Which will show you the tax cost basis of all the shares that were transferred into this new sub-portfolio.

The Transfer Between wizard will record the transfer out transactions in your original account, and one or more transfer in transactions into the new sub-portfolio. There will be one transfer in for each lot transferred. When you're all done, if you don't want to track that sub-portfolio, you could just close it, removing all the transfer in transactions, and just leaving you with the transfer out transactions.

[amsadl]

Sounds good. What does the "Market Value" field in the 'Transfer Between' dialogue do?

The transfers are taking place for zero consideration. Do I just leave it blank?

I want to retain the cost base data so that she will be able to calculate CGT when she sells them

[Mark]

Hi amsadl,

I apologize for the delay in replying to your question. Somehow the email notification about this new post did not make it to us.

The "market value" portion of the transfer wizard is used to determine how much of the value to move. The transfer out and in transactions generated from the transfer between wizard will each have their own market values based off this, and when calculating performance, this market value is used. It will not affect your capital gain calculations, but it will affect performance in each of the accounts transferred from and to.