incorrect tax basis on a cash asset

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Posted by Chris on June 08, 2007 at 18:06:27:

In Reply to: fmsc posted by Chris on June 08, 2007 at 17:42:23:

I think I located the problem but don't know how to fix it. When I increased the price digits to 6 it indicated a per share basis of 1.000027 which would account for the difference.

Thanks, again.

: 1) all transactions recorded @ $1
: 2) There are "account fee" transactions but they are posted at $1 as a negative reinvestment - no return of capital
: 3) no commission fees. Investment properties is coded as "no fees".

: Anything else I'm missing?

: thank you.

: : : 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:

• 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)