Closing Investments to Transfer out of porfolio?

[surendar jeyadev]

Every now and then I transfer investments in the portfolio off to our
charitable trust fund. I have been using the "Close" investment option
to remove these positions so that it does not trigger a taxable event.

Is this the right thing to do?

More importantly, what does "Close" do? I cannot find anything in the
'Help' for "Close".

thanks
sj

[Mark]

Hi sj,

You probably do not want to "close" these investments. This removes them (and all their history) form your sub-portfolio completely. Instead, you could record a Transfer Out transaction for all the shares, and then "hide" this investment now that you don't own any more shares. This keeps the investment's history in your sub-portfolio, but removes it from your current display. For more on hiding sold investments, see:

http://www.fundmanagersoftware.com/faq_hide_sold.php

A Transfer Out transaction does not generate a taxable event for the Capital Gains reports.