Re: Restructure of Portfolio - A Bridge Too Far?

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Posted by Mark on December 02, 2006 at 12:08:53:

In Reply to: Restructure of Portfolio - A Bridge Too Far? posted by Gary Wilson on December 01, 2006 at 20:47:01:

: I am about to re-structure my portfolio but I am not sure of the best way of dealing with this & would apreciate your comments.

: This restructure involves "transfering" shares from my name into another entity but the beneficial ownership remains with me. These transactions will also give rise to capital gains/losses the former being taxable.

: I could do a simple sale by one entity & purchase by another but I would forgo the historic detail since the stock has been under my ownership in some form or other. Even though I do not have this functionality at present I wondered if I could use the wash functionality to achieve my ends?

: I want to sell/transfer stocks to a new portfolio - be able to note tax liability - but otherwise proceed if nothing has happened. I hope I am making sense? I doubt it! ;-)

Hi Gary,

It sounds like you just want to record a sell and a buy. You could either buy into a new investment, or even back into the same investment. If you want to keep the historical data all in the same portfolio, you can just re-use the same investment.

The wash sale feature would prevent all of your losses from being allowed, but you must re-purchase them back into the same investment file.

Thanks,
Mark
--
Fund Manager - Portfolio Management Software

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