Am using Personal Plus 2008 (Australian Version) to mange Personal Finances and share portfolio.
Under a takeover scheme, by Wesfarmers, my 6oo odd Coles shares have been replaced by 100 odd Wesfarmers shares, 80 odd Wesfarmers PPS shares and a cash refund.
Please, suggestions of 'transactions' I should (could) use to process the scheme.
Regards John
Excellent question. . . I look foward to suggestions too.
Dave
The Wefarmer's web site may have a more exact help for this but ...
Cash is a return of Cap on Coles or Sales of fractional shares received in others.
Easiest is to enter a sale of Coles at cost and then a purchase of the others. Apportion the receipt from Coles as the purchase cost of the others by using the average of the opening and closing prices on the date of transaction for each and the number of shares received of each.
In the US this would usually be a tax free transaction and the effective date for the ownership of the new shares would be the ownership date of the original Coles shares. There would be no Cap Gains on the Coles shares (sold at cost) and Quicken would use the artificial purchase date above in its reports and this would have to be corrected for short/long term sales determination.
Eric
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