Adjusting cost basis
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Posted by Wyatt on June 02, 1999 at 01:57:39:
Hi Mark,
Is there a way to adjust the cost basis of a stock to take into account adjustments made by the Co. declaring the dividend which they simply term "Additional Income"? It doesn't increase the number of shares, but only the basis. This seems to be the result of getting the shares at a discount to market and then having add'l income attributed to them representing that discount by the IRS for basis purposes. The only way seems to be is to enter it as a distribution (Account Fee) with a minus sign (ie. a negative negative distribution. It then shows up on the transaction report as a minus but in fact is added to the basis - which is correct. Just seems cumbersome. Sorry to be so long winded!
Thanks,
Wyatt
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