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Re: Gift/transfer of shares

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Posted by Mark on January 10, 2002 at 22:22:49:

In Reply to: Gift/transfer of shares posted by Andrew Padgett on January 10, 2002 at 17:24:03:

: How do you reduce the number of shares without creating a sale which will affect the Capital Gain reporting?

: I gave appreciated shares and want to pull them out of my account.

: Thanks

Hi Andrew,
There are only 2 ways to reduce the share balance:

1) Record a sell
2) Record a split with a ratio less than 1

In this case you should use #1. You will have an entry in the capital gain report though... You can record the sale price such that the gain will be $0, or you could record it at the actual sell price, and just ignore this entry in the capital gain report, or record a memo with this sell.

Mark Beiley

Fund Manager, portfolio management software for Windows 95/98/ME/NT/00/XP

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