How to record gift of shares RRS feed

  • Question

  • I have a brokerage account set up that owns two mutual funds.  I have gifted the shares to my kids but do not know how to record this.  Any help would be appreciated.

    I don't want to set up a sell as this would create a gain or loss.  When I try to transfer the shares out it requires me transfer to another account.  This function cannot be used as I no longer own the shares.


    Thursday, January 31, 2013 4:56 AM

All replies

  • I would use a RemoveShares transaction. Describe the gift in the memo, and note the basis for your kid's use.

    If you have Money generate a TXF file for you, I would manually remove the transaction in that file, because Money will treat it much like a sale.

    Thursday, January 31, 2013 6:02 AM
  • Thanks.
    Thursday, January 31, 2013 6:15 AM