Transfer stock from Broker A to Broker B
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Posted by Arthur Neill on September 25, 2000 at 09:45:57:
I transferred SUNW stock from Legg mason to Ameritrade. I have two portfolios, the one I created to track my Legg Mason held stocks and the Ameritrade oe I use to track the stocks held there.
I want to properly enter the redemption and purchase amounts in the two accounts to reflect the proper cost basis, etc. for tax purposes. Would you please give me some guidance as to what to enter as the "redemption" even though I only transferred and
the "purchase" fields even though I did not buy but only transferred. I had several purchases at Legg Mason before the transfer so the basis will be computed from several purchase prices at different times. Also, how do I maintain the appropriate long and short term amounts?
If I enter a single date in the Ameritrade portfolio, the date of the transfer, that will determine the long or short term nature of the "holding period".