Question
How do I record gifted shares?
Answer
To record gifted shares, use GainsTracker>Record Trades. Select the security type and select Withdraw. Enter the date the shares were gifted, as well as the number of shares involved. If you are gifting specific lots, select Withdraw by ID and you will be prompted to specify your lots when you record the trade.
Do not confuse Deposit and Withdraw with Buy and Sell. Deposit and Withdraw transactions will not show up in your Realized gain/loss reports, or your Schedule D. Deposit and Withdraw are intended for transactions that do not generate any proceeds or capital gain/loss.
For tax information regarding gifted shares, see Taxable Gains on Inherited or Gifted Stocks.