Transferring Open Positions

To transfer all open positions in a Cash Basis account

Create a new file (Creating a new file) or open an existing file within TradeLog.
Import transaction history from the account that is closing to the date of the transfer.
Verify all open positions are correct at date of transfer. (Verify Open Positions.)
From the Account menu, click Transfer

-or-

if you are in the Open Positions window, click the Transfer Open Positions button on the toolbar.
A warning dialog will appear asking, "Are you sure you want to transfer open positions?" Click Yes to proceed or No to cancel.

If you have multiple accounts in your file, you'll get the Select Account box. Either select the account you want to transfer open positions to, or select "Create New Account" to create a new account tab to transfer the positions to.

If you only have one account in your file, then the Add New Account box will appear. Enter your new account information in all required fields and click OK. TradeLog will now add a tab in your main grid containing your new account and transferred open positions.

Additional Notes:

If a user is closing an existing account and transferring all open positions to a new account or brokerage, they could simply edit the import filter after they have imported all trades in the existing account up to the date of transfer. However, if there are reconciliation differences in broker's 1099-B statement, it may be difficult to ascertain which account is causing the discrepancy!

To transfer some open positions in a Cash Basis account

To transfer just a few open trades between accounts (and not all open trades from one account to another), you will have to use a manual approach to cut and paste those records from one account to another. See: Cutting, Copying and Pasting Trades

To transfer positions in an MTM account

If transferring to another MTM account for the same taxpayer, please follow the steps above to transfer ALL or SOME positions, as this is not considered a taxable event.
If transferring to a Cash or IRA account, or transferring to a different taxpayer, then it is typically considered a taxable event. (If you are unsure on the tax handling, please consult with your tax professional.) In the case of a taxable event, the transfer should be recorded as an O/C trade at the FMV (fair market value) for the date of the action. The same price should be used in the new account.

To transfer all open positions in a Cash Basis account

To transfer some open positions in a Cash Basis account

To transfer positions in an MTM account

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To transfer all open positions in a Cash Basis account

To transfer some open positions in a Cash Basis account

To transfer positions in an MTM account

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