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wrong tax basis

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Posted by Mike T. on December 16, 2002 at 17:35:37:

With the spin off of Comcast, ATT sent out a worksheet to track ATT tax basis back thru 1959.

Of course when I completed and checked the hand calculation of my att tax basis - it was wrong from FM file (shares correct). I'm sure I made a mistake or two in the FM spin off entries along the way over the years.

I think one mistake was with the file |scale prices entry. Wrong date range or factor (many adjustments over the years) for the basis to be wrong, but to keep the # shares correct.

I want to fix the FM basis now that I calculated the correct basis by hand. The problem is that I don't know how to fix it without screwing it up even more.

I don't think I can audit and correct previous scaling entries like I can fix splits and so forth.

The FM tax basis is way too low. I found that I can artificially inflate the original purchase price back in 94, to increse the basis, but I think that is the wrong approach.

What do you suggest I do to correct the basis and maintain the correct number of shares?

Thanks much.
Mike T.

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