Stock error correction

OCMMT's Avatar


02 Jul, 2023 01:45 PM

My investment group recently went through an audit and discovered that they had incorrectly assigned stock units (shares) to its customers. They gave us shares to correct the error. No money changed hands; just one day, I had more shares. Is there a way to reflect this in Moneydance?

I looked at, but it looks like this isn't quite the same situation, and MD isn't really set up to handle it.

  1. 1 Posted by dwg on 02 Jul, 2023 02:00 PM

    dwg's Avatar

    What is the cost basis of these extra shares?

    See you say they "cost" you nothing so if you took the cost basis as 0 then say sold the shares for 10.00 your capital gain would show as 10.00 and presumably this is what you would be taxed on.

    So I would expect they would tell you the basis these extra shares were issued on.

  2. 2 Posted by OCMMT on 02 Jul, 2023 02:05 PM

    OCMMT's Avatar

    Thank you. I have inquired them.

    Brian Menyuk,
    Assistant Treasurer, Old Chatham Meeting

  3. System closed this discussion on 12 Oct, 2023 07:52 PM.

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