Transfer really mess up the capital gains estimator in Money -- a known
problem. However, there is a step short of dusting off the old abacus: if
you did the transfer correctly (beginning with TransferOut instead of
TransferIn), then the data exported to tax programs should have the correct
basis.

--
Michael Gordon


"W'" <W[at]discussions.microsoft.com> wrote in message
news:EF430DFC-3B7E-4F13-902E-56642859BB78[at]microsoft.com...
- quote -

I don't think downloads from brokerages is my problem (see my subsequent
post). But I feel for you regarding the mutual funds. I've noticed that when
the funds were having trouble after the crash, they tended to merge, spin
off, what ever; if you don't look closely, your basis for the successor
shares will be way off. The mergers, etc. seem to make their Morningstar
ratings look good (by jetisoning the crash data), but it doesn't make me any
more money!

"Marilyn & Bob" wrote:

- quote -

The problem does not involve downloads at all; the transactions in question
were around before I started to download.

The problem is that M06 doesn't keep track of the basis at all very well.
I've now seen several cases of this, after scratching my head a few times. Of
course, there is no problem if all the transactions are in a single account.
(Seems to be a test hole in the software.)

Also, some of the equities I've looked at have been sold in a different
account, sometimes after several account transfers. When this occurs, M06
seems to lock the transactions (like a transfer) in such a way that when you
try to change it, the software either pops up a "you can't do that" window,
or actually thinks there is an error and takes me to the MS webpage, where it
says they don't know whats wrong. It's kind of amusing if it wasn't taking so
much time checking the software.

Back to the abacus, I guess.

"Cal Learner-- MVP" wrote:

- quote -

In microsoft.public.money, Marilyn & Bob wrote:

- quote -

The basis in Money is not downloaded. It is based on the
transactions in the registers.

In microsoft.public.money, W' wrote:

- quote -

The workaround back then would have been to
Disable online access.
Rename and change FI in account details/settings.
Enable online access.

It would, however, be a lot of work to try to do it now. What you
might try in a copy of your file is to delete the transfers in and
out, and then right-click a Buy in the old account, and to a
CutAndPaste to the new. Leave the dividends in the old account.
Consider this an experiment that I have not tried, so remember to
use a copy of your file.

- quote -

Things are probably not as bleak as it seems. If you generate a TXF
file for your schedule D, I expect it to have the original basis and
acquire date. You might generate a fake sell, and test that out.

This is not to say that it is not a problem.

I am totally guessing here, but do you download your information? If so, do
you know where Money gets its Basis information from? If the downloads
affect what Money knows, it is possible that your new broker treated the
data as a transfer with no cost: ($0 basis) and that information was
imported into Money and overrode your prior tansactions.

(non Money example) The transfer accounting between brokerage houses is not
very good. My mother has a closed end Kemper Municipal Bond Investment
Trust with Shearson which over the years redeemed bonds in the portfolio
resulting in Return of Capital Payments reducing the basis. This investment
was transferred to Fidelity two years ago. When the Trust was liquidated
this year, she got $4000 and Fidelity reported capital loss of $16000 as it
showed the original basis and none of the ROC payments made when the account
was with Shearson. (The real capital gain/loss should actually have been
around $0)
--
Peace,
BobJ

"W'" <W[at]discussions.microsoft.com> wrote in message
news:7C59D60D-8FAE-43B1-BC15-6334FE36C6D0[at]microsoft.com...
- quote -

Commentary: why put all this baggage on a piece of software and then never
test it out? The cap gains estimator is a prime example....

I transferred stock from Ameritrade to Interactive Brokers a couple of years
ago and still own the bulk of this stock. I thought I would play with the cap
gains estimator with the hope of learning something. Each lot is listed there
but they all have the acquisition date of the date I made the transfer and
each share has zero basis! If I go to the original account and examine the
details within the reallocate lots pop-up, I see that M06 thinks each lot
being transferred has a non-zero basis.

Am I the only one who sees a problem here?

Famous last words: does anybody at MS actually use their own software?