transfer brokerage account loses basis

#2 07-28-2005, 08:06 PM

In microsoft.public.money, Paul Pedersen wrote:

- quote -

> I did it from the Portfolio page, by
> Record a special activity/Transfer an account...
> That started a wizard that asked for from account, to account, etc., and did
> all the transfers. And lost my cost bases and acquisition dates.

You did not mention your version, but on later versions, you should
be able to retain the basis for figuring capital gains. However the
performance data in the Portfolio view starts over.

See below.

- quote -

> "Michael Gordon, MVP" <gordonm[at]denison.edu> wrote in message
> news:%23GMjo9jkFHA.3164[at]TK2MSFTNGP15.phx.gbl...
> > If you initiate the transaction with a Transfer Out, the basis should be
> > retained. If you initiated it with a Transfer In, the basis isn't kept.
> > > --
> > Michael Gordon
> > MVP
> > > > "Paul Pedersen" <no-reply[at]swen.com> wrote in message
> > news:%23uP0oRUkFHA.2920[at]TK2MSFTNGP14.phx.gbl...
> > > I recently rolled over a 401k into an IRA. It was a rollover in kind,
> > > meaning that the assets were not liquidated first, just transferred from
> > > one account to another. I used Money's "Transfer an account" function.
> > > > > Unfortunately, Money transferred all the assets over with zero basis, as
> > > if I'd gotten them for free. Now the Annual Return column in the
> > > Portfolio view shows all of them as "Big %". I wish it were actually Big
> > > %, but I know better. Plus there's no record of the date the assets were
> > > acquired.
> > > > > Did I do something wrong? Do I have to fix it by hand, one security at a
> > > time? Is it even possible to fix it?
> > > >
You can restore a backup that preceded the transfer, disable online

access to that account (if applicable), and change the details of
that account.

#1 07-27-2005, 10:14 PM

I did it from the Portfolio page, by

Record a special activity/Transfer an account...

That started a wizard that asked for from account, to account, etc., and did
all the transfers. And lost my cost bases and acquisition dates.

"Michael Gordon, MVP" <gordonm[at]denison.edu> wrote in message
news:%23GMjo9jkFHA.3164[at]TK2MSFTNGP15.phx.gbl...
- quote -

> If you initiate the transaction with a Transfer Out, the basis should be
> retained. If you initiated it with a Transfer In, the basis isn't kept.
> --
> Michael Gordon
> MVP
> "Paul Pedersen" <no-reply[at]swen.com> wrote in message
> news:%23uP0oRUkFHA.2920[at]TK2MSFTNGP14.phx.gbl...
> > I recently rolled over a 401k into an IRA. It was a rollover in kind,
> > meaning that the assets were not liquidated first, just transferred from
> > one account to another. I used Money's "Transfer an account" function.
> > > Unfortunately, Money transferred all the assets over with zero basis, as
> > if I'd gotten them for free. Now the Annual Return column in the
> > Portfolio view shows all of them as "Big %". I wish it were actually Big
> > %, but I know better. Plus there's no record of the date the assets were
> > acquired.
> > > Did I do something wrong? Do I have to fix it by hand, one security at a
> > time? Is it even possible to fix it?
> > >

07-27-2005, 12:09 AM

If you initiate the transaction with a Transfer Out, the basis should be
retained. If you initiated it with a Transfer In, the basis isn't kept.

--
Michael Gordon
MVP

"Paul Pedersen" <no-reply[at]swen.com> wrote in message
news:%23uP0oRUkFHA.2920[at]TK2MSFTNGP14.phx.gbl...
- quote -

> I recently rolled over a 401k into an IRA. It was a rollover in kind,
> meaning that the assets were not liquidated first, just transferred from
> one account to another. I used Money's "Transfer an account" function.
> Unfortunately, Money transferred all the assets over with zero basis, as
> if I'd gotten them for free. Now the Annual Return column in the Portfolio
> view shows all of them as "Big %". I wish it were actually Big %, but I
> know better. Plus there's no record of the date the assets were acquired.
> Did I do something wrong? Do I have to fix it by hand, one security at a
> time? Is it even possible to fix it?

#-1 07-25-2005, 06:12 PM

I recently rolled over a 401k into an IRA. It was a rollover in kind,
meaning that the assets were not liquidated first, just transferred from one
account to another. I used Money's "Transfer an account" function.

Unfortunately, Money transferred all the assets over with zero basis, as if
I'd gotten them for free. Now the Annual Return column in the Portfolio view
shows all of them as "Big %". I wish it were actually Big %, but I know
better. Plus there's no record of the date the assets were acquired.

Did I do something wrong? Do I have to fix it by hand, one security at a
time? Is it even possible to fix it?

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