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Re: Exchange one stock for another

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Posted by Sal 1958 on March 07, 2002 at 08:03:36:

In Reply to: Re: Exchange one stock for another posted by Mark on March 06, 2002 at 19:43:42:

: : 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.

: Thanks,
: Mark
: --
: Mark Beiley
: Fund Manager, portfolio management software for Windows 95/98/ME/NT/00/XP
: /XP

Thanks Mark...Case 2 is what I was looking for so that there is no taxable event.


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