How to Account for shares received as gift in MProfit Software ?

[Tanmay Keni]

Suppose you have received some shares from your father as a gift.

1. Open one portfolio in your father's name in MProfit. Enter all shares with respective purchase dates in this portfolio.

2. Now, use the transfer feature to transfer gifted shares from your fathers's portfolio to your portfolio.

Refer this forum post for detailed steps: https://forum.mprofit.in/forum/gener...her-in-mprofit

3. MProfit will calculate the capital gains accurately with the original purchase date of your father's portfolio when you sell these stocks from your portfolio and will be treated long term if these stocks were purchased before one year in your father's portfolio.

[Tushar]

but need to know how to account for shares received as gift from other than family members though its gifted as blood relations?

[Tanmay Keni]

You can add the PMS transaction for such gift shares received using off market transaction.

Detailed steps here: https://forum.mprofit.in/forum/gener...rofit-software