0 price for total loss of shares

[Stefano M Canta]

Here is my situation.
I have a Lending Club account where I can borrow money to somebody by
issuing shares that are worh 25$ each. Each share is paid back in a certain
amount of time, with interest, and reinvested in new shares.
Let's say I have 100 shares, and in a year I receive back 50$ in capital
and 50$ in interest, then the total shares I have are 102 (the original
capital reinvested + 2 shares worth of interest).

Now it happens that some people can't repay their loans. Let's say a person
has paid back 12.5$ and now defaults. I lose half a share. So I record a
loss of 0.5 shares (12.5$).

That's when the advanced portfolio can't compute a basis if I have many of
these losses.

Stefano


-----

Stefano Mihai Canta, Ph.D.
Electrical Engineering Specialist
Antenna Subsystem Operations

Space Systems/Loral
3825 Fabian Way M/S G-43
Palo Alto, CA 94303-4604
Tel  1-650-852-5808
Fax 1-650-308-1808


On Wed, May 15, 2013 at 10:38 AM, Steve <zephod at cfl.rr.com> wrote:

>
> ---- Stefano M Canta <cantastefano at gmail.com> wrote:
> > A 0.0 price does not work.
> > Let's say I have 100 shares and I have a loss on 2.
> > I will write a transaction for  -2 shares at a price of 0, but the
> advanced
> > report for some reason can't compute the basis anymore when I have two or
> > three of these total loss transactions.
> >
> Um.. you've lost me.
> A share implies an equal share. You can't have 100 shares, 2 of which are
> priced at 0.0 and the other 98 are priced at something else. I assume I'm
> mot understanding your meaning.
>
> However, I do see a problem.
> I started a new set of accounts, created a security, symbol ABC under
> assets ad bought 100 shares for $1000.00.
> Next I used the price editer and set the price to 0.00 the day after I
> bought it.
> Then I ran the advanced report for that day. It correctly shows the basis
> as $1000.00 and the current value of $0.00.
>
> The next day I entered a transaction to sell the worthless shares for
> $0.00. The value of 0.0 in the deposit column is removed and the dialog
> asking how many shares to sell does not appear. I don't have time now but I
> will try to add the capital gains and see if that makes any difference.
>
> Also, and this is a question more than an answer, if you sell the stock,
> it doesn't show up in the advanced report any more, correct?
>
> Steve
> >
> >
> > On Wed, May 15, 2013 at 6:15 AM, Steve <zephod at cfl.rr.com> wrote:
> >
> > >
> > > ---- Stefano M Canta <cantastefano at gmail.com> wrote:
> > > > Hello,
> > > > How do I insert a price of 0 USD for the total loss of some stock
> shares?
> > > > If I just subtract the shares without any price from the stock
> account,
> > > the
> > > > advanced portfolio report has issues computing the basis.
> > >
> > > Have you disposed of these shares or do you still own them?
> > >
> > > If you still own them you could go to the price editor and manually
> enter
> > > a price of 0.0. I'm assuming that you can no longer get a quote. I
> don't
> > > have GC on this machine so I can't give you the exact steps.
> > >
> > > If you have disposed of the shares then just enter a normal sell
> > > transaction with 0.00 as the amount received from the sale. I suppose
> that
> > > this amount could be negative if you still had to pay fees and/or
> > > commisions.
> > >
> > > Steve
> > >
>
>