Thanks for both replies. I used a zero price and the number of shares
with a description. (John's procedure) But I was not sure if the
procedure I used was correct (best).
Regards,
Les
On 02/19/2018 05:47 PM, nvsoar wrote:
On 02/19/18 15:25, John Coppock wrote:
This is what I have been doing. I am new to Gnu Cash.
I'm using Gnu Cash v.2.6.17 on Windows 10 in US dollars.
In 'Tools/Security Editor', create the new spin-off security.
In your brokerage account, create a new sub-account for the new
spin-off security. Its Account Type will be stock (do this first),
currency will be shares of the security you just created. If you
don't see it show up after you created it, go to 'View/Filter
by/Other' to show accounts with zero totals,
In the new sub-account (tab between fields), enter the date of the
spin-off, a description, on the next line choose 'Buy' for 'Action',
enter the shares received in 'Shares', delete the value in 'Price',
enter the basis of the shares received in 'Buy', on the next line
enter the name of the parent Stock account, enter 0 for 'Shares',
delete the value in 'Price', verify the value in 'Buy' is the same as
the basis entered before, hit enter and you're done.
I've found this seems to handle the basis change for both stocks.
On 2/19/2018 1:37 PM, Les wrote:
I recently had a stock that owned a significant part of a rather new
company and decided to spin it out at a 5 to 1 rate. Can someone
please explain how to do this in GC?
Thanks,
Les
FWIW - Here is a resource for dealing with spin-off basis transactions
- http://www.costbasistools.com/spinoff/calculator.php
nvsoar
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