Amortize Premiums on Tax-Exempt Bonds

Comments
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My broker handles the calculations. In Quicken, I then enter a RtrnCap (to reduce the cost basis) and a MiscExp to convert the cash generated by the RtrnCap back to negative _IntIncTaxFree (as applicable).
No version of Quicken will perform the calculation. I don't know of any software that does; maybe a high end investment management package.
If you broker is not providing this data, I don't know how they can properly report your cap gains when you do close the holding via sale or call. Are they not showing a reduced cost basis with each interest payment received?0 -
Great response. I've been doing this for years.q.lurker said:My broker handles the calculations. In Quicken, I then enter a RtrnCap (to reduce the cost basis) and a MiscExp to convert the cash generated by the RtrnCap back to negative _IntIncTaxFree (as applicable).
No version of Quicken will perform the calculation. I don't know of any software that does; maybe a high end investment management package.
If you broker is not providing this data, I don't know how they can properly report your cap gains when you do close the holding via sale or call. Are they not showing a reduced cost basis with each interest payment received?0 -
Thanks for the help, but that can be time consuming if you have a lot of bonds and to duplicate the entry monthly. Maybe this is something quicken can work on.q.lurker said:My broker handles the calculations. In Quicken, I then enter a RtrnCap (to reduce the cost basis) and a MiscExp to convert the cash generated by the RtrnCap back to negative _IntIncTaxFree (as applicable).
No version of Quicken will perform the calculation. I don't know of any software that does; maybe a high end investment management package.
If you broker is not providing this data, I don't know how they can properly report your cap gains when you do close the holding via sale or call. Are they not showing a reduced cost basis with each interest payment received?0
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