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How Do You Transfer Shares In Kind from a Non-Registered Account to a TFSA so that it shows as a dep

ColinGruchy
ColinGruchy Member ✭✭
edited October 2018 in Investing (Windows)
I transferred 3 BMO shares from my non-reg account to my TFSA account in kind. In Quicken, I keyed it manually as shares transferred between accounts. But in the Investing Activity report it shows as a decrease in the Change in Market Value section rather than a withdrawal in my non-reg account and an increase in the Change in Market Value section of the TFSA account. I need it to show as a deposit in the TFSA so I can track the deposits and withdrawals according to government regulations. It should also show as a withdrawal in the non-reg account. I don't want to key the withdrawal as a "Sell" because that will trigger a capital gain in Quicken. Quicken Home and Business: Year - 2018; Version R4.4; Build 27.1.1.4; Edition - Canada

Comments

  • Unknown
    Unknown Member
    edited July 2018
    It sounds like you entered this transaction correctly. There is in fact a change of market value in each of your accounts as a function of the transfer, but the net change to your portfolio is zero.

    I'm not aware of a concept of a "deposit" of securities in an investment account in Quicken, but the transfer in to your TFSA account is an entry in the register, and should appear on an investment transaction report.
  • ColinGruchy
    ColinGruchy Member ✭✭
    edited July 2018
    Actually, I just realized that the transfer between the taxable account and the non-taxable account should trigger a capital gain in the taxable account according to taxation rules. So I should sell the shares in Quicken using the Sell transaction, key a Withdrawal for the cash amount selecting the TFSA account as the transaction category and then key a Buy transaction in the TFSA to buy the 3 shares from the cash balance. I just did this and now I see a deposit on the Investing Activity report for the TFSA. I also see the realized gain in the Capital Gains section on the Investing Activity report as well as the withdrawal amount for the taxable account. All is good!
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