Regarding Viatris spinoff from Pfizer

Question

Download has two partial entries with different prices and ends with two sets of fractional shares.  Broker reports one entry for whole shares and one cash-in-lieu of fractional share.  How can these be corrected to match broker statement in Quicken?

mshiggins · Accepted Answer

There is a lengthy discussion on the handling of the PFE VTRS spinoff here:

https://community.quicken.com/discussion/7883338/how-to-have-correct-cost-basis-in-a-corporate-spinoff-e-g-pfizer-upjohn-mylan-transaction/p1

I recommend you review that discussion and post any follow up questions you might have in that discussion.

MontanaKarl · Accepted Answer

Sympathy... the whole Viatris thing was a mess, with Pfizer taking forever to release the cost basis information and even then not posting it in the proper place on their web site.

Is it possible that you had two basis lots in Pfizer (e.g., you originally purchased, or were gifted/inherited, shares in multiple transactions)?  While your online account summary would just show the total shares and the one cash-in-lieu entry, the back-office calculations would have done the spin-off on a per-cost-basis-lot basis to allocate the proper basis to the post-spinoff PFE shares (still two basis lots), the post-spinoff VTRS shares (two basis lots) and the cash-in-lieu transaction - the basis of which would be the sum of the fractional bases as allocated.

If so... then you likely have the right thing... if your totals for PFE, VTRS and the cash-in-lieu match.   Drill down in your brokerage's online view of your holdings to check on basis lots.  For example, with Schwab, the cost basis is shown as a blue hyperlink.  Click on that and you'll see each basis lot with purchase dates, cost bases, etc.

PS. I'm a slow typer...and was typing the above while @mshiggins  posted the link to the detailed discussion of the spinoff that I now see.  Hopefully my info and that thread help. :-)