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Author
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Topic: How to record a disbursement of stock
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FN_User
Member
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posted 04-06-2005 09:07 AM
 
I need to know how to record a distribution of common stock (in kind) to the beneficiary of the trust. Thank you, Sonya
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fni_support
Moderator
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posted 04-06-2005 09:09 AM
Hi Sonya,Are you doing the accounting for the trust? Or do you want to record the receipt of stock from a trust for someone’s personal books? Thanks, Matthew
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FN_User
Member
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posted 04-06-2005 09:10 AM
Hi Matthew,We are doing the accounting for the trust.
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fni_support
Moderator
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posted 04-06-2005 09:11 AM
Hi Sonya,The stock is leaving the custody of the trust. Now it will appear on the individual’s books and not the trust. Is this a true statement for your situation? Thanks, Matthew
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FN_User
Member
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posted 04-06-2005 09:12 AM
Hi Metthew,Yes the trustee has decided to distribute some shares of common stock (not cash) held in the trust to the beneficiary of the trust. The shares will now be on the individual’s books. I am trying to determine how to enter the distribution on the books of the trust. Thanks, Sonya
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