Re: incorrect tax basis on a cash asset

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Posted by Mark on June 08, 2007 at 17:34:16:

In Reply to: incorrect tax basis on a cash asset posted by Chris on June 08, 2007 at 17:25:27:

: on an asset type categorized as cash, what would cause the end shares balance to be different than the tax basis amount? I ran a custom report with these 2 fields and 3 of the 4 were correctly identical but the 4th had a $9.51 difference. Thank you.

Hi Chris,

Here are some places to look:

1) Are all of your transactions recorded at $1/share?

2) Do you have any "Account Fee" or "Return of Capital" distributions? These will affect your tax cost basis.

3) Did you pay any commission fees on any of your purchases? These would cause your tax cost basis to be higher than your share balance.

Thanks,
Mark
--
Fund Manager - Portfolio Management Software

Replies:

• fmsc Chris 17:42:23 06/08/07 (4)
  • incorrect tax basis on a cash asset Chris 18:06:27 06/08/07 (3)
    • Re: incorrect tax basis on a cash asset Mark 23:26:49 06/08/07 (2)
      • Re: incorrect tax basis on a cash asset Chris 10:27:28 06/11/07 (1)
        • Re: incorrect tax basis on a cash asset Mark 13:20:40 06/11/07 (0)