Specific tax lot vs FIFO tax lot

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Posted by Jim on May 27, 2007 at 19:08:12:

Have a stock that pays a return of capital, ROC, which was taken in cash. The theory says that ROC should reduce my cost in both a FIFO and specific tax lot basis. If I sell shares, both of the 'Report Cap Gains - Specific Lot' and 'Report Cap Gains - FIFO' reflect correctly the ROC in the cost of the sold shares. However another custom report containing 'Tax Basic, Specific Lot' and 'Tax Basis, FIFO (end)' of the remaining shares do not handle the ROC correctly. The 'Tax Basic, FIFO (end)' is correct where as the 'Specific Lot' report misses the ROC. What am I doing wrong?

Also in the same vain, I note that the definition of 'Purchase OOP (current)' does not include 'distributions'. Why is ROC considered a distribution? Isn't it a very special distribution that should be reflected in a change of the original OOP cost?

Thanks.

Replies:

• Re: Specific tax lot vs FIFO tax lot Mark 20:33:25 05/27/07 (2)
  • Re: Specific tax lot vs FIFO tax lot jim 09:53:45 05/29/07 (1)
    • Re: Specific tax lot vs FIFO tax lot Mark 10:18:27 05/29/07 (0)