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#2
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| In microsoft.public.money, johnbusc[at]hotmail.com wrote: - quote - > The Money spinoff function is evidently just a "wizard" to record a
Not exactly. If you do the spinoff, the> Return of Capital transaction followed by a Buy of the new shares and > cash-in-lieu of fractional share(s) if applicable. InvestingTools-> CapitalGainsEstimator and the schedule D information should reflect the correct basis if you use the wizard. This is not to say that you cannot achieve correct basis otherwise. You would need to enter an appropriate price for that AddShares. - quote - > As Garry may have been implying, there's no real benefit of actually
That is what the spinoff action should automate if given the right> using the spinoff function over just manually entering the various > transactions especially since my experience is that Money doesn't do > too good a job of accurately adjusting the resulting basis regardless > of method. > To be sure, figure your new basis outside Money. Since there would be > current year tax implications if cash-in-lieu AND future year tax > implications for sales of MOT and Freescale, I wouldn't trust Money to > provide these bases. data at spinoff time. I would, in his case, seek to void the original transfers and Buy, and enter a new adjusted Buy into the current account with a note in the investment details as well as the transaction memo. |
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#1
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| Joel, Further to Garry's prior response: The Money spinoff function is evidently just a "wizard" to record a Return of Capital transaction followed by a Buy of the new shares and cash-in-lieu of fractional share(s) if applicable. As Garry may have been implying, there's no real benefit of actually using the spinoff function over just manually entering the various transactions especially since my experience is that Money doesn't do too good a job of accurately adjusting the resulting basis regardless of method. To be sure, figure your new basis outside Money. Since there would be current year tax implications if cash-in-lieu AND future year tax implications for sales of MOT and Freescale, I wouldn't trust Money to provide these bases. Regards, JB |
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| Hi Folks, I've never had any problems with MS Money 2004 and file corruption. But I own some Motorola stock, which recently had a spin-off of Freescale Semiconductor. When I try to record this special activity "Record a spin-off" and diligently enter all of the information, it always results in a dialog box with "This operation cannot be performed". When I click the More Info button, it takes me to a Web page with very general instructions like: Product: Money ID: 34 Source: mnyob99 Version: 12.0 Symbolic Name: errUnknown Message: This operation cannot be performed. and an explanation of "Usually caused by a corupt file" (MSFT typo, not mine). Problem is, I've run the repair tool on this file and no issues were found. I do not believe my file is corrupt in any way, I just believe Money is choking on this particular transaction. 1) Has anyone else experienced this problem? 2) Is there any known workaround, other than manually figuring out these individual transactions? Note sure if it is relevant, my MOT stock is only in one account, but it has been transferred across two different accounts within Money in the past. Thank you in advance. Joel |
| Tags |
| record, spinoff |
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