How do I record the transfer of cash assets in an investment account and stock is subsequently purchased?
If an investment account is opened with cash assets and stocks are purchased through the account, this would be recorded as a decrease in cash assets (schedule D-1) and increase in intangible assets (schedule D-2). Again, if you have a consolidated statement from the broker for one investment account and the statement shows each individual stock by number of shares and value, you may use the total of the investment account on the annual accounting. Also, any purchase of stock/securities is listed on Schedule C – Capital Transactions for information purposes only and no entry is needed in the gain or reduction column. The transfer of the cash into investment account is listed on schedule E.
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