Celgene takeover by Bristol Myers

Sorry, I was too quick to reply.

CorpAcq is asking for value of CELG NOT BMY.

cpdreiblatt wrote

Thanks for trying to help me, but it does not work or I am doing something wrong. On the "Security Detail View BMY" page the Transaction History has five Added entries on 11/21/2019,four lots from one account and one lot from an IRA account.

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You did not follow the directions I posted. Namely:

See Investing > Investing Tools > Security Detail View. Select the security with the problem price in the dropdown. CLICK UPDATE > EDIT PRICE HISTORY. [Emphasis added]

You did not access your price history as my directions indicated. The UPDATE choice is in the Security Detail View menu row.

John, I apologize for not getting back to you sooner. I still can not figure it out and I was so disgusted that I decided not to do anything about my problem for a while.

I followed your directions this time (I hope)and the price history has the correct price of $56.85. When I review my holdings for the stock, if I divide the total number of shares into the given cost basis, it comes to $6.85 per share. However, if I divide the number of shares for a specific lot into the cost basis for that lot, it comes to the correct cost per share ($56.85). For some reason the individual cost basis for the four lots total more than Quicken indiates for the total of all the lots.

However, I have the same problem in another account that has only one lot. The individual cost basis lot is ten times greater than the cost basiis for the total lots which, of course is only one lot.

I hope that the above is clear. Thank you again for your help.

Caryl

John, I apologize for not getting back to you sooner. I still can not figure it out and I was so disgusted that I decided not to do anything about my problem for a while.

I followed your directions this time (I hope)and the price history has the correct price of $56.85. When I review my holdings for the stock, if I divide the total number of shares into the given cost basis, it comes to $6.85 per share. However, if I divide the number of shares for a specific lot into the cost basis for that lot, it comes to the correct cost per share ($56.85). For some reason the individual cost basis for the four lots total more than Quicken indiates for the total of all the lots.

However, I have the same problem in another account that has only one lot. The individual cost basis lot is ten times greater than the cost basiis for the total lots which, of course is only one lot.

I hope that the above is clear. Thank you again for your help.

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I'm not totally sure I know exactly what you have done.

But the price/share is basically meaningless.

For each lot of a security you own, you only need to care about the number of shares and the total cost of those shares.

For each lot, make sure the number of shares and the total cost of those shares is correct. Then save the transaction. If Quicken asks which factor to change, make sure you allow the price/share to be changed.

I am sorry I am making this so complicated. I willl try to make my problem clearer. As I said we had Celgene in two accounts, with one account having five lots and the other with one lot of only 200 shares. When I check the holdings screen for this account it shows a cost basis of $1,282 with a gain of 939 per cent (I wish!). However, when I hit the + sign next to the stock it shows one lot with a cost basis of $11,282,which is correct, and a gain of 18.06 per cent. So I am trying to get the cost basis the same in both lines. (The cost per share changed from $56.85 to $56.41.)

I have done this as a corporate acquisition. What have I done wrong? Another site responding to someone's question suggested selling the Celgene and then buying Bristol Myers.

Thanks for your help--I really appreciate it.

cpdreiblatt wrote

I am sorry I am making this so complicated. I willl try to make my problem clearer. As I said we had Celgene in two accounts, with one account having five lots and the other with one lot of only 200 shares. When I check the holdings screen for this account it shows a cost basis of $1,282 with a gain of 939 per cent (I wish!). However, when I hit the + sign next to the stock it shows one lot with a cost basis of $11,282,which is correct, and a gain of 18.06 per cent. So I am trying to get the cost basis the same in both lines. (The cost per share changed from $56.85 to $56.41.)

I have done this as a corporate acquisition. What have I done wrong? Another site responding to someone's question suggested selling the Celgene and then buying Bristol Myers.

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As I noted earlier: the cost/share is meaningless; your cost basis is the total amount.

You should make sure you do not have any placeholders in any account for the acquired security.

As we do not seem to be communicating, I suggest you see the link that Sherlock provided earlier in this discussion. Both q.lurker and Tom Young are extremely knowledgeable users about these issues.

Is there a reason you are not following that suggestion which seems to be based on the facts of the transaction?

The only reason is that the first person who responded to my questions on this Google site (Bartt) suggested that I do the following:

1) Return of Capital 2) Grant Employee Stock Option (even though you're not an employee) 3) Corporate Acquisition (stock for stock)

I did it and it worked except for my cost basis problem.

I also went to the site that Sherlock first mentioned (actually I had gone to it before Sherlock's advice) and John mentioned again recently, but when I first went there, shortly after the takeover, it seemed very complicated so I followed the advice from here. However since the Corporate Acquisition is not giving me the correct cost basis I think I will follow their advice.

Thanks to all who have tried to help me.

Caryl