Hi all - I'm looking for guidance on a pending transaction. In the next 60 days, a trust holding U.S. mutual fund shares will be terminated at Morgan Stanley. The person handling matters wants to effect an in-kind transfer of a portion of those shares to one of my brokerage accounts. The trust was set up in 2009 and never touched, and there are significant capital gains embedded in the shares. I desire to avoid a taxable event by receiving shares, not cash. My preferred recipient firm is Vanguard; my #2 is Fidelity.
Questions:
1. Who out there in Bogleheads land has experienced a similar transaction, and how did it go with Vanguard?
2. Vanguard doesn't sell this particular fund on its platform but I'm told the firm can hold the shares in my after tax account. Should I be concerned about this?
3. Does anyone have cause, based on experience, to favor Fidelity over Vanguard for a transaction like this? If so, why?
4. When the transfer occurs, I assume the cost basis of the shares will carry over and be disclosed to me. Is that a correct assumption?
Answers to the above and any other pertinent advice would be appreciated. Thanks in advance!
Questions:
1. Who out there in Bogleheads land has experienced a similar transaction, and how did it go with Vanguard?
2. Vanguard doesn't sell this particular fund on its platform but I'm told the firm can hold the shares in my after tax account. Should I be concerned about this?
3. Does anyone have cause, based on experience, to favor Fidelity over Vanguard for a transaction like this? If so, why?
4. When the transfer occurs, I assume the cost basis of the shares will carry over and be disclosed to me. Is that a correct assumption?
Answers to the above and any other pertinent advice would be appreciated. Thanks in advance!
Statistics: Posted by Jagger — Sat Mar 30, 2024 11:05 am — Replies 3 — Views 158