nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

Zero out investment account so does not change net worth reports for past activity

chazkov

Hello,

I had transferred investments accounts from one brokerage firm to another in 2023. For report purposes I excluded the old accounts from being included in reports not knowing that when I did this it was going to exclude theses balances in all the prior year's reports. I did not zero out the balances at the time of transfer or transfer between old and new. I just stopped downloading from one firm and started downloading from the other firm.

How do I go back and correct this so the balances in the old accounts show up in the reports and are not duplicated in future reports?

Thanks for any help.

Steven

Find more posts tagged with

Investment Reports

Comments

NotACPA

What's still left in the old account? Securities? Cash?

And, how did you record this change in Q?

chazkov

All the last downloaded balances prior to transferring to new broker account are still there. They consist of stocks, bonds, mutual funds cash etc…

When downloading from new account I just started from there. I realize that I did not handle the transfer as I should have but now realize my mistake and want to fix so I have the history.

Thanks

chazkov

In addition, the investment account is in an IRA

q_lurker

Enter a Remove Shares for each security dated to the time of the transfer.

A better original path would have been the Shares Transferred between Accounts which would have generated Remove Shares and Add Shares as applicable. My suggestion is just filling in the omitted Remove Shares.

chazkov

Yes when I did the download of the new accounts, I was not thinking it thru. Lesson learned.

Thank you zeroing out each security after further thought was what I was thinking I needed to do. I always create a backup file before I do anything.

Thanks again