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IRA Portfolio to Roth Portfolio Transfer

Questions about updating prices or transactions in Fund Manager

Postby George B » Wed Nov 09, 2016 5:13 am

I am doing a IRA portfolio to Roth portfolio conversion. The shares converted will have the same basis in the Roth portfolio as they do in the IRA portfolio.

My question what is the best way to do this in Fund Manager? The "Transfer Out" and "Transfer In" transactions do not appear to be the correct way to do this.

Thanks for your assistance.

George
George B
 
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Postby Mark » Wed Nov 09, 2016 6:57 am

Hi George,

If you're converting a whole sub-portfolio, you could just rename, and change the account number on the sub-portfolio. You wouldn't have to record any transactions. You could make a memo to remind you of what happened.

If you're moving an investment into a new account, you could just move the whole investment.

If you want to record the actual transfer, then yes, use the "Transfer Between" wizard to transfer the shares, and retain your cost basis. In this case you'll end up with 2 investments, instead of 1 for each original investment.

The main difference between keeping everything in the original investment versus transferring it, is that you split the history between 2 different investments.
Thanks,
Mark
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Postby George B » Wed Nov 09, 2016 7:03 am

I tried the "Transfer Between" and it works correct for the IRA side but on the Roth side it puts in a transfer plus a purchase so I end up with twice as many shares. I selected AVG cost and create new investment since this does not exist in the Roth side. It prompts me "Do you want to transfer the funds from the Default Account and I say no since there is no actual cash involved. I am filing in market price on the day of the transfer.

What am I doing wrong? I am using version 2016.14.10.100
George B
 
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Postby Mark » Wed Nov 09, 2016 7:21 am

Hi George,

The "Transfer Between" wizard only adds transfer in transactions into the destination investment. Is it possible the purchase was already in there? Maybe it was retrieved that way from the broker? You can just delete the purchase transaction if you're accounting for those shares with transfers in transactions.
Thanks,
Mark
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Postby George B » Wed Nov 09, 2016 8:32 am

The investment being transferred does not exist in the Roth portfolio prior to the transfer. I have not retrieved any transactions from the broker.

When doing a transfer between portfolios why does it prompt me "Do you want to transfer the funds from the default cash account?" A transfer should not need any cash from the default cash account.
George B
 
Posts: 33
Joined: Sun Jun 13, 2010 7:07 am

Postby Mark » Wed Nov 09, 2016 8:44 am

Hi George,

Are you sure you're using the "Transfer Between" wizard? Right mouse click on the original investment in the Portfolio Editor, and choose "Investment Data / Transfer Between...". You select a source, and a destination. You enter a market value, and the shares transferred. You should not get prompted for anything about cash.
Thanks,
Mark
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Postby George B » Wed Nov 09, 2016 9:11 am

I am doing using the Transfer between function. I get the dialog box to enter the from and to portfolios and select new investment since it does not exist in the transfer to portfolio. I am entering the market price on the transfer date and have tried several of the accounting methods.
George B
 
Posts: 33
Joined: Sun Jun 13, 2010 7:07 am

Postby George B » Wed Nov 09, 2016 9:14 am

I have attached a pictiure of the screen I am using. It has not been filled out with the correct data.
Attachments
screen.png
screen.png (235.78 KiB) Viewed 2853 times
George B
 
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Postby Mark » Wed Nov 09, 2016 9:44 am

Hi George,

Yes, that is the correct screen. After you fill that out, you get some notice about whether to use a default cash account or not? Can you send some screen shots, or maybe give us a call, and we can do a quick web meeting?
Thanks,
Mark
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Postby George B » Wed Nov 09, 2016 10:20 am

I would like to call you, when is a good time? It is 12:19 EST now
George B
 
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Joined: Sun Jun 13, 2010 7:07 am

Postby Mark » Wed Nov 09, 2016 10:22 am

Now is fine, or anytime before 5pm AZ time...
480-705-0129
Thanks,
Mark
Fund Manager - Portfolio Management Software
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