Hi all, just curious how you all might be tracking SRS withdrawals in StocksCafe assuming it’s currently setup as a portfolio and the withdrawals would be stock withdrawals to CDP. Thanks.
This is what I did as well.
I am not really sure what this means though.
You can withdraw the stocks in your SRS to your CDP so am wondering what’s a good way to track this.
Do you :
- Record it as sell entry in SRS portfolio & buy entry in CDP portfolio and thus recognising the P&L?
- Export everything in SRS portfolio & import into CDP portfolio so that everything is at its original cost?
- Do nothing since no need to track any further?
I see. I did not know you can do that.
I would think to simply rename the portfolio if you withdraw all stocks?
If it is just some of the stocks, I would actually create a new portfolio and move the transactions over so that you will know which stocks came from SRS.
If you do not need to know which stocks came from SRS, you can simply move the transactions to the CDP portfolio.
Using a new portfolio / existing CDP portfolio to track what’s being moved make sense.
However, would be moving the stocks in batches to keep it tax efficient for the year and the batches may not be an exact match to the buy tranches. Any suggestions on how to handle this?
If you are not splitting up one stock into multiple batches, then I think the original solution would still work.
If a given stock, say DBS, is split up into batches, then I think moving transactions to new portfolio would not work.
I would then suggest to sell and buy back at cost price unless you want to realize the gains, then you would want to sell the current price.
It’ll be a single stock accumulated at different prices over the years and “withdraw” in multiple batches. The cost price to use here would be average cost at the time of the “withdrawal”?
Yes, the cost price would be the average cost at the time of the withdrawal.
Ok thanks Evan.