How do I transfer shares between securities within one brokerage account?

KsMomOf2

The transfer shares between accounts does NOT do what I need it to do. Do I have to sell each the shares back to cash inside the account and then buy the shares in the new security?

bmciance

Well, if that is what you are trying to accomplish then one way to do it is to sell shares of the one fund and buy shares of the other fund.

You could also try doing it as "Removed" shares of the one fund and "Added" shares of the other and specify the cost of those shares to be transferred.

How is it reflected in your brokerage account?  If there is no cash then you should probably do the Removed and Added. 

You can't use the Fund Conversion because that will convert everything from one fund into a new fund (I assume based on what you said that is not what is happening).

Sorry, I was not trying to pry, but there are often questions about particular stock transactions like spin-offs and other corporate actions and if we know the stock it makes it easier to help.

bmciance

Good luck!  Hope you get it all straightened out.  Do you have a backup before you did all of those transactions?  If you have one that you can restore it might be a lot easier.

bmciance

Please describe the actual transaction you are trying to achieve. Is this a spin-off or some similar type of transaction?   What security? 

KsMomOf2

We have several securities (funds) within one brokerage type account, we have shares in several securities within that account. We transferred many of the shares from one of the securities in the account to another security within the same account. I am not sure why the security name matters.

What I am trying to achieve is an accurate reflection of what is happening in reality.

bmciance

Well, if that is what you are trying to accomplish then one way to do it is to sell shares of the one fund and buy shares of the other fund.

You could also try doing it as "Removed" shares of the one fund and "Added" shares of the other and specify the cost of those shares to be transferred.

How is it reflected in your brokerage account?  If there is no cash then you should probably do the Removed and Added. 

You can't use the Fund Conversion because that will convert everything from one fund into a new fund (I assume based on what you said that is not what is happening).

Sorry, I was not trying to pry, but there are often questions about particular stock transactions like spin-offs and other corporate actions and if we know the stock it makes it easier to help.

KsMomOf2

Thanks for the quick responses.

There is cash, kind of, because the numbers of shares are different. I think it is acting as a buy/sold - so, that is how I will enter it.

After I delete the dozens of transactions that were added when I incorrectly did this using the transfer between accounts (and essentially transferred out and in) - it did not allow me to specify both the new/old securities - so right now, the file is a mess that I need to clean up. And then - a sell and a buy. Alas.

Thanks again for your assistance.

bmciance

Good luck!  Hope you get it all straightened out.  Do you have a backup before you did all of those transactions?  If you have one that you can restore it might be a lot easier.

NotACPA

In spite of Fund industry inaccurate terminology calling this a TRANSFER ... for both IRS and Investment performance purposes this is a SELL and then BUY event.