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Friday, December 11, 2009 4:16:57 PM
I think this is the assumption made with Gainskeeper and similar tools is that the value of CTBG stock at the date of distribution is the basis of the stock. This would be accurate if you purchased the stock.
These programs simply uses the date & time the stock appears in your portfolio as the basis for the stock. So it will not accurately reflect a stock distribution UNLESS, the company distribution the stock provides accurate basis information at the time of distribution. Of course, you don't expect Jim Dial to go through the process of hiring a Investment Banker or a CPA firm to provide this type of service do you?
You have to remember tools like Gainskeeper are designed by computer programmers not securities or tax experts. Its based on programming assumption and not true economic reality. It doesn't anticipate any short comings made by shysters like Jim Dial. Whatever basis information it gives you on the CTBG distribution is more than likely not correct.
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