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Posted by PSJ on September 2, 2006, 11:31 am
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> Discovered this a.m. that I am not able to use misc. inv income in '07p as
> it changes the cost basis to the exact am't of income; this occurred w/an
> I bond valued at $100/share -- example:
>
> $50 misc inc (category Interest: FRB int to distinguish from _intinc)
> Market value $1050
> Cost Value $1100
> Gain/Loss -$50
>
> This still works as it should in '06p. Hope someone else using '07 will
> try this to see if it works as it should for them.
>
Discovered a work around for this "feature;" if I enter a misc. income
transaction w/o a security named (didn't know I could do this) & then go
back & name the security, the cost basis does not change from $1050-correct,
to $1100-incorrect. BTW, I mistakenly typed "Cost Value" rather than cost
basis in the original post.
--
PSJ
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