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Switching Brokerage

qosmioamitqosmioamit
in Excel Workbook
I have been using two brokerages over the past 10 years. I have all 10 years of data in PS. This year, I want to switch all holdings in-kind from one brokerage to the other. Can I just use SymbolTransferOut and SymbolTransferIn to do this for the equities?
For cash, I assume, I have to do a withdrawal in one account and deposit in the other account. Is that right?
Am I missing anything that may affect the ACB or other calculations?

To make matters slightly complicated, I have a ticker XUU that I hold in both accounts. Is PS going to be able to redo that ACB calculation?

Comments

  • VidasMatelisVidasMatelis
    Cash is simple - you withdraw in one account and deposit in another and the sum will be 0 - so no impact. The assumption here is that accounts have the same currency.
    For symbols rule is:
    1. For each symbol take the price at the end of the transfer day and use that price for SymbolTransferOut and SymbolTransferIn transactions.
    2. For each SymbolTransferIn transaction, you must specify CostBasisOverride value that represents your confirmed (!) CostBasis at the point of transfer in the currency of the account. If you have cases when Symbol currency is different from account currency, then you have to make sure that after conversion your numbers are correct.

    To confirm if your data entries are OK, you can enter first sale transaction for a day before transfer, recod cost basis and then change that transaction date to day after transfer and confirm that cost basis for both transactions arre OK (and then remove that "trial" sale transaction).
  • qosmioamitqosmioamit
    Luckily, my currency of transfer is the same.
    OK I think that worked.

    I also noticed a BuyTA for DRIP.

    I have been using "Buy" code for the buy portion of the DRIP transactions and entering quantity and per unit price. Is that OK for the calculations, or should I go back and change all the "Buy" codes to "BuyTA" and replace the per unit price with the total price.
  • VidasMatelisVidasMatelis
    I use BuyTA a lot too. For DRIP transactions I always enter 2 transactions:
    1. DivTA - total dividends received
    2. BuyTA - number of shares bought and total price paid.

    I would not change transactions you already entered, but for future transactions, it is easier to work with DivTA/BuyTA.
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