wrong basis

[thrombus]

Hi -
I have a sub-portfolio which contains 6 investments, all of which are showing the wrong cost basis. I have no idea where it is getting the data to calculate the basis.
If I look at the data register for each individual investment, all of the information appears correct ( the sums of the total column should be the true correct basis).
I feel as if I'm missing something simple, but I just can't figure out what's wrong. My other sub portolios are showing the correct basis; it's only this particular one.

Thanks for your help,
Ray

[Mark]

Hi Ray,

Where exactly are you looking at the cost basis? Are you looking at the unrealized cost basis in a custom report? What is the exact field you're looking at?

Your tax cost basis can be affected by the original purchase cost, plus optionally the cost of any account fees, and minus any Return of Capital distribution types.

The other point to check is if maybe your investments are in your non-default currency, and are being exchange rate adjusted in a way you're not expecting. See "View / Exchange Rate Adjusted".

[thrombus]

Hi Mark,
I'm looking at the portfolio editor window. All of the entries in the Basis column, and subsequently unrealized gain, are wrong. For example my investment values range from $3.5K to 17K while all the basis values range from $56-58K. The real basis should be pretty close to the investment values.

When I look through the data register, all fees are $0. The register shows Transfer In entries which compose the bulk of the investment values. Multiple small redemption, reinvestment, and dividend entries are also present. I see nothing else of significance.

I tried switching "exchange rate adjusted" with no change. I don't have a default cash account set for this sub portfolio, which is the only difference I can think of compared to my other working subportfolios, but should that matter?

[Mark]

Hi thrombus,

Notice that Transfer In transactions have a separate field for tax basis from market value. Edit the Transfer In transactions, and verify the cost basis information is entered correctly. Also, to quickly find the problematic transaction(s), create an "Open Lots" report for the current date. From within this report, choose "Options / Report Preferences... / Open Lots" to make sure you have "Tax Basis" turned on.

[thrombus]

Thanks Mark,
That solved the problem. There was a large value in all the OOP basis and tax basis fields that somehow got inserted during the initial download process.
Out of curiosity I did try to create an open lot report, as you suggest, but I couldn't find the "tax basis" selection under the available choices. Nonetheless, problem is solved.

Thanks again!

[Mark]

Hi thrombus,

Glad you found the problem. The "Tax Basis" field was added as of version 12.0. Make sure you're using 12.0, and then you should see that option for the Open Lots report.