Stock Spin-Out

[Les]

Thanks for both replies.  I used a zero price and the number of shares 
with a description.  (John's procedure)  But I was not sure if the 
procedure I used was correct (best).

Regards,

Les


On 02/19/2018 05:47 PM, nvsoar wrote:
> On 02/19/18 15:25, John Coppock wrote:
>> This is what I have been doing.  I am new to Gnu Cash.
>>
>> I'm using Gnu Cash v.2.6.17 on Windows 10 in US dollars.
>>
>> In 'Tools/Security Editor', create the new spin-off security.
>>
>> In your brokerage account, create a new sub-account for the new 
>> spin-off security. Its Account Type will be stock (do this first), 
>> currency will be shares of the security you just created. If you 
>> don't see it show up after you created it, go to 'View/Filter 
>> by/Other' to show accounts with zero totals,
>>
>> In the new sub-account (tab between fields), enter the date of the 
>> spin-off, a description, on the next line choose 'Buy' for 'Action', 
>> enter the shares received in 'Shares', delete the value in 'Price', 
>> enter the basis of the shares received in 'Buy', on the next line 
>> enter the name of the parent Stock account, enter 0 for 'Shares', 
>> delete the value in 'Price', verify the value in 'Buy' is the same as 
>> the basis entered before, hit enter and you're done.
>>
>> I've found this seems to handle the basis change for both stocks.
>>
>>
>>
>> On 2/19/2018 1:37 PM, Les wrote:
>>> I recently had a stock that owned a significant part of a rather new 
>>> company and decided to spin it out at a 5 to 1 rate.  Can someone 
>>> please explain how to do this in GC?
>>>
>>> Thanks,
>>>
>>>
>>> Les
> FWIW - Here is a resource for dealing with spin-off basis transactions 
> - http://www.costbasistools.com/spinoff/calculator.php
> nvsoar
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