I'm clueless on how to sell a security and use that money to buy another
security. All I have done to date is reinvest interest & dividends.
I have an account structure that looks like this.
Parent Invest Account - This is for holding a cash balance.
ABC - Invest account for ABC security.
XYZ - Invest account for XYZ security.
xxx - Many more investment accounts for xxx securities.
I'm selling all 100 shares of the security ABC.
I'm going to buy 50 shares of the security XYZ.
How should I do this?
I tried to transfer the cash from the selling of ABC to the Parent
Investment Account then transfer the required amount of cash from the
Parent Investment Account to XYZ account then buy those XYZ shares. But
I got so confused I didn't know what was going on and deleted everything
and started over trying it with a split transaction and OMG that was
even worse.
Please advise.
Thanks.
--
Old Unix programmers never die, they just mv to /dev/null
- Anonymous
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