UTX Spin off and Name Change

[divinest]

Hi Mark, what is the recommended way to track the spin off scenario with UTX to track it? with name change, distribution and the OTIS, RTX and CARR Thanks

[Mark]

Hi divinest,

I'm not familiar with the specifics of that company's spin-off, but you can probably use the spin-off wizard. If something changes names, you can simply change the name. If you have more questions, please tell me the specifics of what you're trying to record.

[divinest]

Sounds good, will let the transaction download update those and review them.

[divinest]

Hi Mark Here is the scenario

UTX stock spin off & name change
UTX name changed to RTX (RAYTHEON TECHNOLOGIES CORP) - UTX shows as all shared redeemed and added as RTX

CARR one share for each share of UTX owned

OTIS .5 shares for each share of UTX owned

The transactions downloaded and reconciles with the brokerage
Wanted to see how the cost basis; out of pocket costs should be handled in each of the above 3.

Thanks!

[Mark]

Hi divinest,

Besides shares, you'd also need to find out how much of your cost basis was moved to those new investments. Hopefully you can get this from your broker. If not, you may need to research it online, or contact RTX as usually this is specified in the details of the spin-off.

For the UTX -> RTX, just change the name/symbol/CUSIP properties, and maybe record a note on that date.

For CARR/OTIS use the spin-off wizard twice. To use this, right click on RTX and choose "Investment Data / Spin-Off..." and enter in the information there. As I mentioned you'll need to know how much cost basis needs to be transferred to the child investments.

[divinest]

thanks Mark - that works