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From: Zaidy036 on 14 Apr 2010 15:18
In article <4bb2e4ba-22d2-4410-a681-546db3d92fc4(a)w24g2000vbw.googlegroups.com>,
jaygreg90(a)hotmail.com says...
>
> On Apr 13, 8:23�pm, jaygreg <jaygre...(a)hotmail.com> wrote:
> > On Apr 13, 7:56�pm, Zaidy036 <Zaidy036NOS...(a)optonline.net> wrote:
> >
> >
> >
> > > In article <eab893cd-67ca-4677-b916-581353850...(a)d33g2000vbu.googlegroups.com>,
> > > jaygre...(a)hotmail.com says...
> >
> > > > I?ve held a stock for many years and enjoy its dividends now as part
> > > > of my retirement income. Last year, I received a small check (less
> > > > than $150) for settlement in a class action suit against the firm.
> > > > Gathering the paperwork, making the necessary copies, and filing out
> > > > the forms was more expensive than the award!
> >
> > > > I apparently just deposited the check and assigned it to the category
> > > > of ?Capital Gains LT?. It flowed to my Tax Schedule report and the
> > > > only entry under Schedule D.
> >
> > > > When TurboTax (TT) got a hold of the file, it wanted details about the
> > > > boxes of the paperwork accompanying the amount. There was no such
> > > > form; I merely received a check from a law firm of whatever agency
> > > > they had process the payments. I made the assignment at the time not
> > > > knowing how to handle it and probably thinking I?d figure it out
> > > > before I had to reconcile TT. I did; I deleted the TT entry! I really
> > > > don?t know what this entry should be. Can someone please give me a
> > > > clue?
> >
> > > Return of Capital so the Cap Gain will be increased when you finally sell.
> >
> > > If you use average cost this will work OK. If you specify shares for sales then
> > > the return of cap should be against specific shares.
> >
> > Thanks, Zaidy.
>
> Whoops! Spoke too soon. My list of tax lines on Q2008 H&B doesn't have
> a Return of Capital or anything that looks close to me (but I'm not an
> accountant). Could you - or anyone else with this version - suggest an
> selection please.

This is NOT a tax line item UNTIL you sell when the total cost of your
investment is taken into account.

I use Q2008 Premier, not H&B, but there should be a transaction termed "Return
of Capital" as a choice in the Investment account's "Type of Transaction".


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