Stock "spin-offs"

[Bobby Goins]

The question is not necessarily how to account for it for tax purposes.  
My question is: How do I conceptually make it "appear" in gnucash?  

I know I can create the stock account, that is not my issue.  

Do I treat the spin-offs as if they "fell from the sky", or is there a 
better way to do this (almost like a stock spit)?  

BTW: The quantity of GM stock was not changed, nor did I pay for the new 
stock, other than capital gains tax.

-----Original Message-----
From: Derek Atkins <warlord at MIT.EDU>
To: "Bobby Goins" <goins at iglou.com>
Date: Fri, 19 Mar 2004 11:11:20 -0500
Subject: Re: Stock "spin-offs"

> I would suggest you ask your tax advisor and/or accountant.
> 
> I can answer the question of how to account for it in gnucash,
> once you know which accounting approach you're using.  But I have
> no idea which is the proper accounting approach.
> 
> It probably depends on:
>   a) did you lose any GM stock?
>   b) did the Raytheon/Delphi stock have any value when you acquired it
>   c) did you have to pay anything for the stock?
> 
> How you account for it probably depends on all of these answers, but
> again, I suggest you talk to your accountant.
> 
> -derek
> 
> "Bobby Goins" <goins at iglou.com> writes:
> 
> > How does one handle stock "spin-offs"?
> >
> > For instance, I have some General Motors stock.  General Motors "spun
> > off" Raytheon and Delphi.  I received stock in each of these
> companies.
> >
> > I don't know how to handle the new stock.  Do I:
> >      - treat it as a gift, or 
> >      - consider it as part of income (such as dividends)?
> >
> > I have no problem in taking care of subsequent transactions
> concerning 
> > the new stock.  My problem is how to handle the "creation" of the
> stock 
> > in my portfolio.
> >
> > Bob 
> >      
> >
> > _______________________________________________
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> > gnucash-user at lists.gnucash.org
> > https://lists.gnucash.org/mailman/listinfo/gnucash-user
> >
> >
> 
> -- 
>        Derek Atkins, SB '93 MIT EE, SM '95 MIT Media Laboratory
>        Member, MIT Student Information Processing Board  (SIPB)
>        URL: http://web.mit.edu/warlord/    PP-ASEL-IA     N1NWH
>        warlord at MIT.EDU                        PGP key available
>