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Re: Exchange one stock for another

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Posted by Mark on March 06, 2002 at 19:43:42:

In Reply to: Exchange one stock for another posted by Sal 1958 on March 05, 2002 at 20:36:07:

: I have gone through the message board and didn't see anything that fits my problem. I have a managed account and at some point during a quarter, the manager did an even exchange of a stock.. i.e. Stock A for Stock B. I had Stock A as an orginal purchase. Now I have Stock B that has given me a dividend and also I need to show it as a sale. Kind of tough to do as Fund Manager says that it won't allow me to enter the Dividend because I have not purchased the Stock. It won't let me sell the stock since I didn't purchase it. How can I show a one for one exchange on a certian date and that too it will allow me to show the stock as sold when the manager decides to sell all or a portion of it?
: Any help with this would be greatly apprecieated.

Hi Sal1958,

You can convert an investment from one security to another in a couple
of ways.

1) Sell it in one investment and buy it in another
2) Change the name/symbol under Investment Properties... and record a split
to account for the share # change.

It sounds like your case is #2, where the shares were exchanged, so they
did not generate a taxable sell. If the # of shares remained constant, you
don't need to record the split, or you could for record keeping purposes, and
just record it as a 1:1 split.

Mark Beiley

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

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