> On Feb 13, 2026, at 14:52, Kalpesh Patel <[email protected]> wrote:
>
> Attached is how I entered spinoff of BHF from MET in 2017, which I don’t
> think is right as all cost basis listed are not correct …
You’ve also recorded fractional BHF shares instead of the cash-in-lieu you got.
Applying the ABC News columnist’s closing price method, on July 18 2017 BHF
closed at $70.00 and MET at 49.32; you got a share of BHF for every 11 MET you
owned, so the aggregate is 11 * 49.32 + 70 = 612.52. 70.00 / 612.52 = 0.114 so
that’s the portion of your basis in MET that transferred to BHF, and your basis
in MET is reduced by the same amount.
If the original basis in MET was $14.25/share then the new basis is .886 *
14.25 = 12.626 and the basis in BHT is .114 * 14.25 * 11 = 17.87.
107.22 + 18.39 - 112.09 =
Supposing that you got $70/share for the .2627 shares of BHT your capital gain
was (70.00 - 17.87) * .2627 = 13.70.
You could record all of that in GnuCash with
Spin off BHF 6.2727 shares Assets:Broker:BHF 6
17.87 107.22
Reduction in Basis Assets:Broker:MET
112.09
Cash-in-lieu on .2727 shares Assets:Broker:Cash
18.39
Income:CapGain
13.52
It didn’t quite add up right — there’s an 18-cent difference that I took out of
the cap gain split to get it to balance.
Regards,
John Ralls
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