Transferring shares
Is there any way to handle adding and removing security shares (which include per share prices) without buying and selling? In some cases I have inherited shares (and did not purchase them directly).
Is there any way to handle adding and removing security shares (which include per share prices) without buying and selling? In some cases I have inherited shares (and did not purchase them directly).
2 Posted by dhaas on 09 Sep, 2010 01:15 AM
Note that add security does not work because it only allows unique (not a security already in the account) securities to be added.
As a side comment, I would like to be able to remove securities without selling them. The Actions-->Remove security seems to want to remove a security and all transactions associated. This is NOT what I want to do.
3 Posted by -Kevin N. on 09 Sep, 2010 02:04 AM
Hi David,
Will a Buy txn or a Sell txn work if you just delete the Amount? If you delete the Amount it defaults to 0.00.
-Kevin N.
4 Posted by dhaas on 09 Sep, 2010 03:03 PM
I can try this, but I don't want to lose the basis, so the amount is actually important to me. I just don't want it to come out of the cash in the account.
I am coming over from Microsoft Money, which handled this in a pretty good way (although there were other things I did not like about it). However I had used Simple Money (from CA) and Quicken in the past and I can't remember which one, but one of them had the same problem as Moneydance. I resolved it by doing a BuyXfr from a fake account which I did not worry about the balance of and then I excluded the fake account from my net worth. I could try the same in Moneydance, but wouldn't it be nice if you could just add securities to an account without the work around!
5 Posted by -Kevin N. on 09 Sep, 2010 04:01 PM
Hi David,
It's my understanding that If the shares were inherited, then you also inherit the basis. Is that correct? Or is it the fair market value at the time of the inheritance that constitutes the basis?
In any case maybe creating an 'Inheritance' account to handle the purchases may do the trick. I guess that's pretty much what you were doing with the 'Fake' account.
-Kevin N.
6 Posted by dhaas on 10 Sep, 2010 03:18 AM
Hi Kevin,
Yes, this is pretty much what I was doing with the Fake account.
But MD seems to allow creation of categories that can be used like accounts. I am not sure if I understand this, but in a Xfr transaction, I seem to be able to use a category instead of an account.
Can you comment on that? Of course, I guess I should read the manual, but I have not had a chance yet.
7 Posted by -Kevin N. on 10 Sep, 2010 12:29 PM
Hi David,,
You are correct. In Moneydance there is a fine line between Accounts and Categories.
The way I see it is that you can create many different kinds of Accounts, e.g.
Bank Accounts, Investment Accounts, Loan Accounts, Asset Accounts etc. whereas Categories can only be Income Accounts or Expense accounts.
HTH -Kevin N.
Support Staff 8 Posted by Ben Spencer on 10 Sep, 2010 02:42 PM
If you do a Sell Xfr in the source account at the original purchase price, and a buy at the same price in the destination account the cost basis will not be affected.
Ben Spencer
Moneydance Support
9 Posted by ramv on 30 Apr, 2011 06:20 AM
Did anything come of this ? I plan to start using md but can't add new stock as my cash balance keeps getting affected. Like David I also expect to add shares from time to time, possibly with a cost price but without a cash balance impact. Quicken has a 'ShrsIn' function which permits that (as also a ShrsOut'
Support Staff 10 Posted by Ben Spencer on 02 May, 2011 04:50 PM
Moneydance does not currently support ShrsIn and ShrsOut.
When setting up your initial holdings the simplest way to add the shares is to use a buy transaction and one you have bought all your initial holdings edit the initial cash balance on the account to be the equal to what they cost. To do this select Account->Edit Account while you are in the investment account.
With regard to adding shares later on I recommend creating an income category called ShrsIn (or something similar) and enter a BuyXfr to purchase the shares selecting the ShrsIn income category as the source of the funds.
Sincerely
Ben Spencer
Moneydance Support
11 Posted by Bill Courtright on 12 May, 2012 01:54 AM
I, too, would like to be able to directly transfer securites between accounts, preserving costs basis. I understand it is possible to work around this with sell/xfer transactions or by renaming an account. But, in the case of transferring an account from one broker to another, I want to keep the historical account and tranfer the shares directly.
+1 for this feature request.
Thanks for your consideration!
Bill