How should I record off-market transfers from a deceased file?

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Marion
Marion Member Posts: 9 ✭✭
edited February 2017 in Personal Plus and Home & Business
I have a  number of securities left in my deceased father's file which we have transferred off-market  to my brother's account as per the will under the direction of the Executor and accountant. I recorded these as "Sell -shares sold" and recorded the proceeds  back to my father's  Investing  account. No funds changed hands. I opened a new file in my brother's name and "Added' the shares at the same market price. 
Reckon advantage tell me this is incorrect and I should record then as"shares removed".This option removes all transactions from the portfolio. It does not put any value on the shares. It not does not record any capital gains or losses (which I assume we need for the Estate tax return). I queried this with advantage help and was told very definitely they are there for technical help only. Can anyone give me some guidance? I'm using Reckon Personal Plus 2015.

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  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited February 2017
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    Hi Marion,

    Welcome to the Reckon Community.

    To help the community get an answer for you can you outline in layman's terms, what end result you need.

    Deceased estates can become quite complex so it is important you speak with the Estate's solicitors and accountants to determine what is required in your circumstances.

    Once that is understood the required transactions should suggest themselves.


    regards,
    John


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