There is a stock-split function in GC. However it doesn't appear to do
spin-outs. In my case, the company doing the spin-out is doing a 5 to 1
and there are no fractional shares. I just assigned the cost at 0.00 per
share.
Les
On 02/20/2018 01:27 PM, David Carlson wrote:
Les,
Usually a stock spin-off splits the before spin-off cost basis between
the after spin-off stocks according to documents provided by the
parent corporation to the SEC and shareholders which also explain how
details such as fractional shares and various expenses are to be treated.
The worksheet that nvsoar provided the link to helps with calculating
details.
I thought that there was also a stock split assistant built into
GnuCash to construct the transactions. Check the help or tutorial
manual s for that.
David C
On Feb 20, 2018 9:57 AM, "Les" <lellio...@gmail.com
<mailto:lellio...@gmail.com>> wrote:
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
<http://www.costbasistools.com/spinoff/calculator.php>
nvsoar
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