Asset Transfer
Asset transfers move securities between broker accounts without a sale. The position leaves one broker and arrives at another — no cash changes hands, and in most jurisdictions this is not a taxable event.
🔑 Key Properties
| Property | From (source) | To (destination) |
|---|---|---|
| Code | TRANSFER |
TRANSFER |
| Cash effect | — | — |
| Asset effect | ⬇️ Decreases | ⬆️ Increases |
| Broker | Source broker | Destination broker |
| Tax event | Varies by jurisdiction | Varies |
📊 How It Works
An asset transfer records two entries: one debit at the source broker and one credit at the destination broker. Both reference the same asset with mirrored quantities.
Common scenarios:
- Moving shares from one broker to another
- Inheriting assets
- In-kind contributions to a different account type (e.g., ISA, 401k)
Cost Basis Preservation
When transferring assets, the original cost basis should be preserved. The transfer itself is not a taxable event in most jurisdictions (though rules vary). LibreFolio allows an optional cost basis override on the receiving side.
See 📊 Weighted Average Cost (WAC) for how the automatic cost basis is computed.
🔀 Relationship with Adjustments
Under the hood, a Transfer is composed of two Adjustment entries. LibreFolio supports:
| Operation | Result |
|---|---|
| Split (unlink) | Transfer → two independent Adjustments |
| Promote (link) | Two Adjustments → Transfer |
Promote constraints: same asset, different brokers, opposite quantities.
🔗 Related
- 📊 Weighted Average Cost — How cost basis is computed on transfers
- 🏦 Cash Transfer — Wire transfers (cash, not assets)
- 💱 FX Conversion — Currency exchange
- 📊 Adjustment — Manual corrections