For those that have TRP and gotten new shares of SOBO, is the best way to track this is using SymbolTransferOut of the old TRP shares and then SymbolTransferIn for the new TRP and SOBO shares?
seems like this doesn't work properly or not the correct way. I transfer out all the TRP shares and then Transfer in the same TRP shares at the reduce cost. But on the holding page the cost basis doesn't align to the new reduce cost and avg from my brokerage. the cost basis was aligned up with brokerage before the spin off, so is the calculation using historical cost because the shares wasn't sold to reset it?
the new SOBO shares cost basis align up, cause there aren't any historical cost, i'm thinking.
Also, I noticed that my brokerage has kept the Cost Basis for TRP at the same value as before the spin-off. According to Yahoo finance (https://finance.yahoo.com/news/tc-energy-completes-spinoff-liquids-125300482.html) "... Estimated proportionate allocation of adjusted cost base between TC Energy common shares and South Bow common shares is expected to be posted on the TC Energy and South Bow websites when available during fourth quarter 2024 ...". That may be why my brokerage has not adjusted TRP's Cost Basis - maybe it will get adjusted as and when the information is "posted on the TC Energy and South Bow websites"??
What I did now was using SymbolTransferOut using my original book cost, then using CostBasisOverride to correct the difference (which I don't understand why there is a different yet). then transfer in using the new AVG cost for TRP and SOBO, now everything is aligned up in the Holding tab except for the avg book cost column. But I also for notice ATD that just did a symbol change also have avg book cost messed up.
I think this should work? transfer out using the old book cost and transfer in using the new book cost and they both even out in cost.
You should use SymbolTransferOut and SymbolTransferIn. For SymbolTransferOut you use Price for the day of the transfer (or day before). OutQty*OutPrice=OutTotal Also take a note of total OutCostBasis. For SymbolTransferIn you will have 2 transactions: Qty1*Price1 + Qty2*Price2=OutTotal
For SymbolTransferIn you should specify CostBasisOverride: CotBasisOverrride1+CostBasisOverride2=OutCostBasis.
Comments
the new SOBO shares cost basis align up, cause there aren't any historical cost, i'm thinking.
Regarding how to record the spin-off transaction - you may want to check out Vidas' response to a question about recording spin-off's at https://support.portfolioslicer.com/index.php?p=/discussion/645/stock-spinoffs/p1
Also, I noticed that my brokerage has kept the Cost Basis for TRP at the same value as before the spin-off. According to Yahoo finance (https://finance.yahoo.com/news/tc-energy-completes-spinoff-liquids-125300482.html) "... Estimated proportionate allocation of adjusted cost base between TC Energy common shares and South Bow common shares is expected to be posted on the TC Energy and South Bow websites when available during fourth quarter 2024 ...". That may be why my brokerage has not adjusted TRP's Cost Basis - maybe it will get adjusted as and when the information is "posted on the TC Energy and South Bow websites"??
TD calculated all the new AVG cost.
What I did now was using SymbolTransferOut using my original book cost, then using CostBasisOverride to correct the difference (which I don't understand why there is a different yet). then transfer in using the new AVG cost for TRP and SOBO, now everything is aligned up in the Holding tab except for the avg book cost column. But I also for notice ATD that just did a symbol change also have avg book cost messed up.
I think this should work? transfer out using the old book cost and transfer in using the new book cost and they both even out in cost.
For SymbolTransferOut you use Price for the day of the transfer (or day before).
OutQty*OutPrice=OutTotal
Also take a note of total OutCostBasis.
For SymbolTransferIn you will have 2 transactions:
Qty1*Price1 + Qty2*Price2=OutTotal
For SymbolTransferIn you should specify CostBasisOverride:
CotBasisOverrride1+CostBasisOverride2=OutCostBasis.