Not sure if anyone here is familiar with Mirant's bankruptcy, but one of the consequences of their reorganization plan is that former shareholders of the "old" Mirant received shares in the "new" Mirant plus Warrants that entitle the holder to purchase additional "new" shares at an exercise price. My problem, as a longtime Quicken user, is that I can't figure out a way to properly account for these warrants.
As the warrants can actually be sold, I assume they must also carry some cost basis. If this was a more typical x number of "new" shares for each y number of "old" shares one would just do enter a StkSplt transaction and the basis in the "old" shares would be transferred appropriately to the "new" ones. But I don't see a way to have a StkSplt that splits into multiple securities. There is a Corporate Spinoff action that will sort of let you do this, but it works by doing a Return of Capital and then a purchase of both the "new" shares and the warrants. Not only does this mess up the timing of any gain/loss (trust me, its a loss!) for tax purposes, it also creates an Uncategorized Income line to appear on my budget reports in the amount of the Capital Returned (which is definitly not right, as I never see any proceeds at all in this transaction.
Any help or ideas?