Re: incorrect tax basis on a cash asset

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Posted by Mark on June 11, 2007 at 13:20:40:

In Reply to: Re: incorrect tax basis on a cash asset posted by Chris on June 11, 2007 at 10:27:28:

: Mark - thank you. I changed the category of the fees to "other" and that fixed the problem. I assune that the change will not affect performance data? Maybe for future versions "cash" type assets could be exempted from the tax basis process.

: On another note, in November 2006 Esteban Endere requested information on setting up a separate fee account. Could you elaborate on how that would work & how to set up?

: Thanks again.

: Chris

Hi Chris,

Correct, changing from account fee to other, will not change performance numbers like ROI yield, etc...

You can exclude cash type investments from capital gains reports. See "Options / Report Preferences... / Capital Gains / Exclude Cash Type Investments".

You could create another cash account, and record all your fees into that cash account. This really isn't necessary, but you could do it this way if you wanted.

Thanks,
Mark
--
Fund Manager - Portfolio Management Software

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