Example 7 - Transfer to Spouse/Partner
You can test out the following example by copying and pasting the trades into the
calculator . The trade format and instructions
can be viewed here.
Note the format of the 3rd line below. The first character T signifies a share transfer to a spouse. Thereafter follows the date, the number of shares and finally the charges involved in the transfer
There is a minor restriction with this calculator when using this function. No buy or sell trades with the transferred stock can be performed in the same date as the transfer.
|
B |
01/12/2000 |
ABC |
3000 |
4.82 |
15.00 |
72.30 |
|
B |
02/12/2000 |
ABC |
1000 |
4.82 |
15.00 |
120.62 |
|
T |
20/04/2011 |
ABC |
3000 |
20.00 |
0.00 |
0.00 |
|
B |
22/04/2011 |
ABC |
1000 |
2.00 |
15.00 |
10.00 |
|
B |
23/04/2011 |
ABC |
1000 |
4.00 |
15.00 |
10.00 |
Results
When your shares are transferred to a spouse the shares are matched up in the same way as if the shares were sold.
Your spouse acquires your shares for the same amount as the original acquisition cost. The result is zero gain in your capital gains calculations.
For more see this post.
