| Is there a way to transfer stock holdings? |
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Miamicuse
New Poster
Cash: $ 0.45
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Joined: 02 Mar 2012
Location: Miami, Florida
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| Is there a way to transfer stock holdings? |
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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.
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Fri Mar 02, 2012 8:43 am |
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cbhattarai
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Location: India
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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...
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Sat Mar 03, 2012 10:47 am |
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Miamicuse
New Poster
Cash: $ 0.45
Posts: 2
Joined: 02 Mar 2012
Location: Miami, Florida
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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!
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Sat Mar 03, 2012 5:38 pm |
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Boso
Member
Cash: $ 3.80
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Joined: 03 Nov 2011
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maybe, you can cheak it online.
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Mon Mar 12, 2012 7:29 am |
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