Can't reallocate FIFO lots


T

Taylor

I have Money 2006 Premium. I have FIFO selected in the Investment Settings.
I have a stock that I have purchased and sold in different lots over time.
Money says it uses FIFO to determine the cost basis for tax purposes. The
help says I should be able to right-click on an investment transaction in
the Portfolio Manager and right-click Reallocate Lots. However, the
Reallocate Lots menu item does not appear in the right-click menu. I need
to determine the cost basis of my FIFO stock purchases for tax reasons. How
do I locate and view the cost basis of these stock lots in Money? Anyone
able to help me here?
 
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C

Cal Learner-- MVP

In microsoft.public.money, Taylor wrote:

I have Money 2006 Premium. I have FIFO selected in the Investment Settings.
I have a stock that I have purchased and sold in different lots over time.
Money says it uses FIFO to determine the cost basis for tax purposes. The
help says I should be able to right-click on an investment transaction in
the Portfolio Manager and right-click Reallocate Lots. However, the
Reallocate Lots menu item does not appear in the right-click menu.
So are you trying to re-allocate the sales to not be FIFO, or are
you trying to see the basis of the shares you already sold to help
do your taxes by hand or to pass information to your accountant? If
the later, in Money 2006, Taxes->TaxTools->ExportToTaxSoftware

Set the ReviewTaxesFor drop-down to Completed2005TaxYear.
Continue.

Select the items that you want Money to send to the tax program,
and de-select those things that you will instead pull off of the
1099s. This may be Schedule A, Schedule C, and both long- and
short-term capital gains, depending on your needs.

In Money 2005 and 2006, if you want to print a tax report for
yourself or your tax preparer, do not click Continue at this point.
Instead click File->Print to print the selected tax information.
This may be in two sections: the forms, line numbers and amounts
for most of the selected items, and then the information for
Schedule D.
..

I need
to determine the cost basis of my FIFO stock purchases for tax reasons. How
do I locate and view the cost basis of these stock lots in Money? Anyone
able to help me here?

If you are trying to see the basis for shares you still hold, go to
Taxes->CapitalGainsEstimator->EstimateCapitalGainsTax.

Click the [+] in front of an investment to see the per-share basis
for the unsold stock lots. If you enter a number of shares into
QtyToSell, the prospective gain/loss is shown in the right column
and in the summary at the bottom.

Now if you are trying to switch from FIFO to specific lot
identification, that would involve changing some settings first.
 
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T

Taylor

Cal Learner-- MVP said:
In microsoft.public.money, Taylor wrote:

I have Money 2006 Premium. I have FIFO selected in the Investment
Settings.
I have a stock that I have purchased and sold in different lots over time.
Money says it uses FIFO to determine the cost basis for tax purposes. The
help says I should be able to right-click on an investment transaction in
the Portfolio Manager and right-click Reallocate Lots. However, the
Reallocate Lots menu item does not appear in the right-click menu.
So are you trying to re-allocate the sales to not be FIFO, or are
you trying to see the basis of the shares you already sold to help
do your taxes by hand or to pass information to your accountant? If
the later, in Money 2006, Taxes->TaxTools->ExportToTaxSoftware

Set the ReviewTaxesFor drop-down to Completed2005TaxYear.
Continue.

Select the items that you want Money to send to the tax program,
and de-select those things that you will instead pull off of the
1099s. This may be Schedule A, Schedule C, and both long- and
short-term capital gains, depending on your needs.

In Money 2005 and 2006, if you want to print a tax report for
yourself or your tax preparer, do not click Continue at this point.
Instead click File->Print to print the selected tax information.
This may be in two sections: the forms, line numbers and amounts
for most of the selected items, and then the information for
Schedule D.
.

I need
to determine the cost basis of my FIFO stock purchases for tax reasons.
How
do I locate and view the cost basis of these stock lots in Money? Anyone
able to help me here?

If you are trying to see the basis for shares you still hold, go to
Taxes->CapitalGainsEstimator->EstimateCapitalGainsTax.

Click the [+] in front of an investment to see the per-share basis
for the unsold stock lots. If you enter a number of shares into
QtyToSell, the prospective gain/loss is shown in the right column
and in the summary at the bottom.

Now if you are trying to switch from FIFO to specific lot
identification, that would involve changing some settings first.
Thank you for that information.

First, I de-selected using FIFO from the Investment Settings and the
Reallocate Lots menu option appeared, which seems to contradicts the help
manual, which says to select FIFO.

I used the tax export feature and clicked on the Capital Gains detail. This
gives me the information I want, which is the cost basis of the stock sold
in 2005 using FIFO from the lots purchased in prior years. Thanks again.
 

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