[GNC] How to record the transfer of securities directly from one broker to another

[David Carlson]

Thanks for the suggestions so far.  I had not thought of the re-parent
option.  That would be quite easy, although I had embedded a hint at the
broker name in the names of the original set of security accounts, which
would complicate that process a bit if I use it.  I know that there is no
need in GnuCash to accurately reflect all the details required to be 100 %
legal with the government regulations.  The new brokerage identifies each
transaction as 'Transfer of Assets ACAT Receive' and they do include a
value for each security, but I am sure there is further documentation not
shown that could (and would) be used for regulation compliance.  This case
is a roll-over IRA and so the regulations are a little different than for
other types of accounts.  I think the biggest problem might be how to
handle GnuCash reports about the history with the previous brokerage after
the re-parenting.  A big part of my final decision will be how much work
does it take to implement it and whether details that I consider important
are included.  Maybe I would need to create a separate set of 'Before'
books to use for some reports.


On Wed, Nov 20, 2024 at 5:42 AM sunfish62 at yahoo.com <sunfish62 at yahoo.com>
wrote:

> Imight just create the base brokerage account and reparent the individual
> stock and mutual fund accounts into the new brokerage.
>
> Otherwise,  zero dollar transactions sending shares only? Note that this
> would likely affect capital gains calculations...
>
> ⁣David T.​
>
> On Nov 20, 2024, 9:19 AM, at 9:19 AM, David Carlson <
> david.carlson.417 at gmail.com> wrote:
> >I opened a new brokerage account at a different provider and I asked
> >them
> >to transfer all the securities directly from the previous provider
> >without
> >selling and buying.  This was allowed, I think, because they were all
> >held
> >in street name at the previous provider.  They are both US brokerage
> >houses.
> >I do not see that scenario covered in the Tutorial.  How should I cover
> >this in GnuCash?  I presume that I need to create a group of accounts
> >similar to the old set for the new broker, but then how do I move the
> >securities without selling and buying?
> >
> >--
> >David Carlson
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-- 
David Carlson