Cost Basis Adjustment transaction

[minvestor]

I am evaluating the personal version of Fund Manager. I like the security of local storage of data. I am willing to update my own portfolio records to avoid the paying for expensive subscription-based cloud apps that offer capability that I don't need.

I would like to port my account history into this tool.

In the past, I have had wash sales and corporate spinoffs that have required that I adjust the cost basis of a specific lot.

I notice there is no direct method for adjusting the cost basis of a tax lot, which I would need in order to transfer my history. I don't need the features of the Professional version just to record my wash sales, and even with that capability, I would still have the problem of correcting basis of spinoffs.

The only proposed work around I have found in the forums is to use a pair of "phantom" transfer-out/transfer-in transactions to adjust the cost basis on the transfer-in transaction. In my view this makes for a messy and confusing transaction history.

The post, "AT&T Spinoff cost basis calculation" describes this Transfer-out/transfer-in technique.

Is there a reason that makes including a cost basis adjustment action problematic for this application?

Is there a straight forward method that I have missed?

[Mark]

Hi minvestor,

Thanks for evaluating Fund Manager. There is no transaction to adjust only a specific lot, but you can record a "Return of Capital" type distribution to adjust all owned lots as of the date of that distribution. The other option to adjust the cost basis of a particular lot is to edit the transaction where you acquired those shares.