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Is there a way to transfer stock holdings?

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Money Talk > Investing, Stocks and Bonds

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Miamicuse
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Is there a way to transfer stock holdings?  Reply with quote  

If I currently owned shares of a publicly traded company and wish to transfer the stock holdings to a company (owned by me), is there a way to do this without actually doing a buy and sell?

Obviously if I do a sell and buy I will be subjected to capital gains tax which is what I am trying to defer.

Thanks in advance for any comments.
Post Fri Mar 02, 2012 8:43 am
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coaster
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No, don't do a buy and sell. Just open another account and transfer the shares to the new account. The account doesn't have to be with the same broker, either. When you finally do sell the shares, your cost basis will be your original cost basis, not the basis at the time of the transfer. So you'll have to supply the custodian of the new account with the original cost basis, because that will be reported to the IRS now under new reporting rules for brokers.

~Tim~
Post Sat Mar 03, 2012 7:21 am
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cbhattarai
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quote:
Originally posted by coaster
No, don't do a buy and sell. Just open another account and transfer the shares to the new account. The account doesn't have to be with the same broker, either. When you finally do sell the shares, your cost basis will be your original cost basis, not the basis at the time of the transfer. So you'll have to supply the custodian of the new account with the original cost basis, because that will be reported to the IRS now under new reporting rules for brokers.
Thanks for this great reply...
Post Sat Mar 03, 2012 10:47 am
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Miamicuse
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quote:
Originally posted by coaster
No, don't do a buy and sell. Just open another account and transfer the shares to the new account. The account doesn't have to be with the same broker, either. When you finally do sell the shares, your cost basis will be your original cost basis, not the basis at the time of the transfer. So you'll have to supply the custodian of the new account with the original cost basis, because that will be reported to the IRS now under new reporting rules for brokers.


Thank you very much Tim/Coaster!
Post Sat Mar 03, 2012 5:38 pm
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coaster
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Forgot to mention: it's the receiving account that initiates the transfer, NOT the sender. (In fact, you can even fund the account upon opening with the stocks transferred; no need to even deposit any funds --- provided the amount satisfies account minimum and any other requirements are met).

Sorry 'bout that. Wink

~Tim~
Post Sun Mar 04, 2012 7:03 am
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Boso
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maybe, you can cheak it online.
Post Mon Mar 12, 2012 7:29 am
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