How to handle a double income reclassification

How to handle a double income reclassification

If you keep cost basis in PortfolioCenter reconciled to your broker, February means income reclassifications. Due to complicated IRS rules and regulations, fund companies may need to adjust dividends already paid when they close their books at the end of the fiscal...
Aloca (AA) spinoff Arconic (ARNC)

Aloca (AA) spinoff Arconic (ARNC)

On November 1, 2016, Alcoa Inc became two companies.  The original Arcon shares (AA) became Arconic Inc (ARNC).  Then ARNC spun off a new company, Alcoa Corp (AA). Great news for investors, but a headache for PortfolioCenter users. Because the new company is trading...
8 Step PortfolioCenter Tune-up

8 Step PortfolioCenter Tune-up

Take advantage of the slower summer months to give your PortfolioCenter database a tune-up. Keeping the details streamlined not only makes your daily tasks more efficient, it reduces the likelihood of hitting speed bumps during the quarter-end rush.  Here’s a...
Cost basis adjusted, now what?

Cost basis adjusted, now what?

You receive this message from your broker with a list of accounts, dates and dividends: “Cost Basis Adjusted.  No Action Required. The following accounts’ cost basis was adjusted due to an action such as return of capital.” The notice may say...