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Subject Author Date
Capital Gains Distribution in an ETF Dave4252 04-09-2007
Posted by Dave4252 on April 9, 2007, 9:45 pm
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 I have an investment in an index fund (EFT), iShares CDN LargeCap 60
Index Fund. The annual tax slip (T3) I receive for this fund shows a
capital gain. I did not receive any cash from this capital gains
distribution, nor did it increase the number of units I hold in the
fund. What I would like to know, is how to enter this as a
transaction in Quicken 2006. The only effect of the transaction
should be to increase the cost basis, since it does not generate cash
or shares. Can anyone help me out?


Posted by JM on April 9, 2007, 11:13 pm
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> I have an investment in an index fund (EFT), iShares CDN LargeCap 60
> Index Fund. The annual tax slip (T3) I receive for this fund shows a
> capital gain. I did not receive any cash from this capital gains
> distribution, nor did it increase the number of units I hold in the
> fund. What I would like to know, is how to enter this as a
> transaction in Quicken 2006. The only effect of the transaction
> should be to increase the cost basis, since it does not generate cash
> or shares. Can anyone help me out?

I'm guessing here as have no first hand experience. Am assuming you
will be taxed on the CapGain?. Record a CapGain transaction followed
by a Return of Capital transaction - the ROC is a negative amount
offsetting the CapGainn. The net is zero to your cash balance and the
negative ROC increases your cost basis.


Posted by Dave4252 on April 15, 2007, 10:11 am
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>
> > I have an investment in an index fund (EFT), iShares CDN LargeCap 60
> > Index Fund. The annual tax slip (T3) I receive for this fund shows a
> > capital gain. I did not receive any cash from this capital gains
> > distribution, nor did it increase the number of units I hold in the
> > fund. What I would like to know, is how to enter this as a
> > transaction in Quicken 2006. The only effect of the transaction
> > should be to increase the cost basis, since it does not generate cash
> > or shares. Can anyone help me out?
>
> I'm guessing here as have no first hand experience. Am assuming you
> will be taxed on the CapGain?. Record a CapGain transaction followed
> by a Return of Capital transaction - the ROC is a negative amount
> offsetting the CapGainn. The net is zero to your cash balance and the
> negative ROC increases your cost basis.

I tried this and it gives me the correct reports. Thanks.


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