Hi guys, I can't seem to find the option in etrade where u can select the bunch of share that you want to sell by purchase date. e.g. I have purchased two bunches of share at $1.00 and $1.50 respectively, how do I select which bunch I wanna sell. Usually when I place the sell order, they automatically put through whichever one is the earliest. Thanks in advance!
Etrade help
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Julia
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I'm not sure what you mean here. E-trade is just going to sell X number of shares for you. It's immaterial to them when they were bought.
You just need that information yourself for the tax return and you can elect to sell whichever parcel you like and just note that for your accountant.
Or I understand there is software which does this.
Julia
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Upka,
Did your original post mean that you don't have a record of what shares you bought when?
I don't get what the problem is, to be honest. What are you wanting E-trade to do?
If I sell something, the only option I get is to enter the number of shares and the price I want to sell at, no suggestion of when the shares were purchased.
I'm curious now, so can you explain?
well for example, if i purchased 1000 QAN share for $5.00 on 30/04/07, and purchased another 2000 QAN share for $6.00 on 10/05/07.
So i've decided to sell 1000 shares from the 2000@$6.00, is there an option to do so. because Etrade automatically sell from the ealiest purchase order, in this case it would be the 1000@$5.00.
Julia
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I thought that was what you meant. As far as I'm aware there is no such option available in E-trade. They don't care when you bought or sold. They are merely providing you with a medium in which to buy or sell.
The relevance of which parcel you have sold only comes up at tax time when you are looking to either minimise your capital gains or maximise your losses.
I understand that there is software available which you can "instruct" to sort out which parcel to select according to your desired outcome. If you don't have a large number of companies, you probably don't need this.
When you enter your Sell order - using your example above - you simply enter Sell 1000 and nominate your sell price or sell at market. It is irrelevant to E-trade which 1000 out of your total of 3000 you are selling. It's just up to you to decide that on your own records and make the appropriate calculation at tax time. Btw if you are selling 1000 from the 2000 you bought on 10/5/07, bear in mind that (if the sell price is higher than the buy price) you won't get the discount on the CGT.
Presumably you have a record as you've described above with the QAN shares.
Hi UPKA
hope this helps.
Log into E trade
go to portfolio
on the right there are three options
average
consolidated
detailed
the average gives you a figure weighted on the amount of shares eg 5000@50cents 2000@78cents
If you click on the detailed view
it should split the no. acquired eg
xyz 5000 @ 50cents...date acquired.......................buy sell
xyz 2000 @ 78cents ..date acquired.......................buy sell
click on the ones you want to sell.
After all if you want to take a profit and the shares go up to say 80cents you want to sell the 50cent ones not the 78cent ones. If E trade can't facilitate this i would be surprised.
Cheers
SG
hope this helps.
Log into E trade
go to portfolio
on the right there are three options
average
consolidated
detailed
the average gives you a figure weighted on the amount of shares eg 5000@50cents 2000@78cents
If you click on the detailed view
it should split the no. acquired eg
xyz 5000 @ 50cents...date acquired.......................buy sell
xyz 2000 @ 78cents ..date acquired.......................buy sell
click on the ones you want to sell.
After all if you want to take a profit and the shares go up to say 80cents you want to sell the 50cent ones not the 78cent ones. If E trade can't facilitate this i would be surprised.
Cheers
SG
Julia
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Stargazer, you are right, of course. You can do this. But it's still (as far as I can tell) only going to bring up the same Sell order screen which has no facility for stating the purchase date or price of the shares to be sold.
And then looking at the contract note, again there is nowhere any mention of purchase date or price.
If anyone knows otherwise, then I'd be interested to hear.
And then looking at the contract note, again there is nowhere any mention of purchase date or price.
If anyone knows otherwise, then I'd be interested to hear.
Hi Julia
Yes i understand what you are saying would be a bit poor if you can't sell the ones you want to at a certain price purchase.
I guess the test would be to have say
500 @ .50c
300 @ .80c
If you elected to sell 600 and had ticked the 500 sell box Would it tell you don't have enought to sell or take the other 100 from your .80c group.
This may be a very important point prior to Financial year sell offs where one price is a loss and another may be a profit.
Cheers
SG
Yes i understand what you are saying would be a bit poor if you can't sell the ones you want to at a certain price purchase.
I guess the test would be to have say
500 @ .50c
300 @ .80c
If you elected to sell 600 and had ticked the 500 sell box Would it tell you don't have enought to sell or take the other 100 from your .80c group.
This may be a very important point prior to Financial year sell offs where one price is a loss and another may be a profit.
Cheers
SG
Julia
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Yes I see what you are getting at. But as far as E-trade are concerned you have 800 shares. They don't care what you paid for them. You ask them to sell 600. They will sell 600 out of your total of 800. It's just up to you to decide at tax time (or before that for your records) which ones you have sold.
