Re: [GNC] Stock Merger
Hi Christopher FYI I have used multi-split transactions for this and similar scenarios in the past and the Advanced Portfolio Report seems to take it all in its stride. Regards Geoff = On 19/02/2022 4:59 pm, Christopher Lam wrote: Although the UI allows 1 transaction with splits in >1 stock, I believe that there's zero likelihood that portfolio reports are written to handle them. Therefore I would recommend that a stock merger is recorded as two separate transactions -- (1) original stock sale as cash into the broker account, recording capital gains in the process. (2) using the cash to purchase new stock. This is very likely the cleanest record of a stock merger. There's an upcoming stock-transaction assistant being worked on which will assist creating stock transactions, and will *not* be able to handle a stock merge in 1 step. On Sat, 19 Feb 2022 at 04:16, Al wrote: Geoff wrote: Hi Al We need to tweak your transactions to fix the cost basis on the Advanced Portfolio Report. Also from a tax accounting perspective, there are two ways to treat this merger, depending whether it realised a capital gains event or not. I'll cover both scenarios from a GnuCash perspective, but please note that I am not an accountant. Many thanks Geoff, the information that you provided will be quite helpful. I'm waiting a bit on tweaking the transaction until I find out the capitol gain status, although I am fairly sure that there is no capitol gain other than the .72 fractional share amount. I'd just like to see that in writing before committing the transaction. Al ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All. ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All. ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Stock Merger
Al, FYI, pp263-264 of this merger document indicate that it is a "reorganisation" and not a capital gains event. https://www.sec.gov/Archives/edgar/data/2488/000119312521071625/d83168d424b3.htm#rom83168_22 However it also states: "ALL HOLDERS OF XILINX COMMON STOCK SHOULD CONSULT THEIR TAX ADVISORS AS TO THE PARTICULAR TAX CONSEQUENCES TO THEM OF THE MERGER, INCLUDING THE APPLICABILITY AND EFFECT OF ANY U.S. FEDERAL, STATE, LOCAL, NON-U.S. INCOME AND OTHER TAX LAWS." Regards Geoff = On 19/02/2022 3:15 pm, Al wrote: Geoff wrote: Hi Al We need to tweak your transactions to fix the cost basis on the Advanced Portfolio Report. Also from a tax accounting perspective, there are two ways to treat this merger, depending whether it realised a capital gains event or not. I'll cover both scenarios from a GnuCash perspective, but please note that I am not an accountant. Many thanks Geoff, the information that you provided will be quite helpful. I'm waiting a bit on tweaking the transaction until I find out the capitol gain status, although I am fairly sure that there is no capitol gain other than the .72 fractional share amount. I'd just like to see that in writing before committing the transaction. Al ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All. ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Stock Merger
Although the UI allows 1 transaction with splits in >1 stock, I believe that there's zero likelihood that portfolio reports are written to handle them. Therefore I would recommend that a stock merger is recorded as two separate transactions -- (1) original stock sale as cash into the broker account, recording capital gains in the process. (2) using the cash to purchase new stock. This is very likely the cleanest record of a stock merger. There's an upcoming stock-transaction assistant being worked on which will assist creating stock transactions, and will *not* be able to handle a stock merge in 1 step. On Sat, 19 Feb 2022 at 04:16, Al wrote: > Geoff wrote: > > Hi Al > > > > We need to tweak your transactions to fix the cost basis on the Advanced > > Portfolio Report. > > > > Also from a tax accounting perspective, there are two ways to treat this > > merger, depending whether it realised a capital gains event or not. I'll > > cover both scenarios from a GnuCash perspective, but please note that I > > am not an accountant. > > Many thanks Geoff, the information that you provided will be quite helpful. > > I'm waiting a bit on tweaking the transaction until I find out the > capitol gain status, although I am fairly sure that there is no capitol > gain other than the .72 fractional share amount. I'd just like to see > that in writing before committing the transaction. > > Al > ___ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > - > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Stock Merger
Geoff wrote: Hi Al We need to tweak your transactions to fix the cost basis on the Advanced Portfolio Report. Also from a tax accounting perspective, there are two ways to treat this merger, depending whether it realised a capital gains event or not. I'll cover both scenarios from a GnuCash perspective, but please note that I am not an accountant. Many thanks Geoff, the information that you provided will be quite helpful. I'm waiting a bit on tweaking the transaction until I find out the capitol gain status, although I am fairly sure that there is no capitol gain other than the .72 fractional share amount. I'd just like to see that in writing before committing the transaction. Al ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Stock Merger
David Carlson wrote: You are very close! Yes, you do need to create a new security and security account under your broker account for AMD first. Then you could re enter or possibly just edit your split transaction to output in AMD instead of XLNX. Thanks David. I ended up editing the splits. Not sure if it is 100% correct but I did end up with 1378 shares of AMD, 0 shares of XLNX and no imbalances. One thing that I noticed is that running the Advanced Portfolio Report shows a cost basis of $0.00 for AMD. If that's the only problem I'm OK with that as it's easy enough to figure out the cost basis whenever I might sell. I've attached the images of the splits, please let me know if this looks reasonable. Thanks! Al___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
Re: [GNC] Stock Merger
You are very close! Yes, you do need to create a new security and security account under your broker account for AMD first. Then you could re enter or possibly just edit your split transaction to output in AMD instead of XLNX. On Wed, Feb 16, 2022 at 10:31 PM Al wrote: > I'm having trouble getting my head around setting up a stock merger. The > merger in question is the recent Xilinx AMD merger. > > Pre-merger I held 800 shares of XLNX. After the merger I have received > 1.7234 shares of AMD for each XLNX share (1378.72 shares). I received > $85.65 "Cash in Lieu" for the .72 shares leaving a total of 1378 shares. > > Using the Gnucash Stock Split Assistant to the best of my abilities > results in me now having 1378 shares of XLNX along with the $85.65 > correctly added to the cash account at my brokerage. > > So how does XLNX become AMD? Am I supposed to create a new AMD entry and > transfer the shares somehow? Or maybe just change the name and ticker > symbol? > > Any help greatly appreciated! > > Al > ___ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > - > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > -- David Carlson ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
[GNC] Stock Merger
I'm having trouble getting my head around setting up a stock merger. The merger in question is the recent Xilinx AMD merger. Pre-merger I held 800 shares of XLNX. After the merger I have received 1.7234 shares of AMD for each XLNX share (1378.72 shares). I received $85.65 "Cash in Lieu" for the .72 shares leaving a total of 1378 shares. Using the Gnucash Stock Split Assistant to the best of my abilities results in me now having 1378 shares of XLNX along with the $85.65 correctly added to the cash account at my brokerage. So how does XLNX become AMD? Am I supposed to create a new AMD entry and transfer the shares somehow? Or maybe just change the name and ticker symbol? Any help greatly appreciated! Al ___ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. - Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
