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« on: January 07, 2013, 10:38:04 AM »
Arnie: here are the details for entering the distribution of AbbVie Inc. from Abbott Laboratories into IAM. Hope you and other IAM users find this information helpful.
Regards, Matt
Entering Distribution of AbbVie Inc. from Abbott Laboratories into Investment Account Manager:
1) Print the IAM Security Search report for Abbott Laboratories to locate all portfolios holding Abbott, with current cost basis details (acquisition dates and basis cost).
2) Enter AbbVie Inc. (ABBV) spin-off.
3) Print the IAM Security Search report for Abbott Laboratories and also Abbvie Inc. to verify proper allocation of cost basis details from Abbott to AbbVie Inc.
4) Sell any AbbVie fractional shares for cash in lieu amount.
1) Select the IAM Reports and Graphs Menu | Portfolio | Additional Reports | Security Search report.
a. Select the option for individual asset.
b. Select Abbott Laboratories from the drop down list.
c. Mark All portfolios to include for this report.
d. Select the Print button to create this report.
e. Print this report and set aside for later verification of proper spin-off allocations.
2) Enter AbbVie Inc. Spin-Off
a. Select IAM’s Transaction Menu | Global Transactions |Spin-off
b. Select option to Backup Data.
c. Enter the transaction date: 01/01/2013
d. Enter symbol of issuer: ABT
e. Enter symbol of spin-off: ABBV (note: if ABBV is new to your IAM library, you will need to follow the steps to add new ABBV to your IAM asset library. Once you have entered this required information, select the Save button to return to the spin-off application form).
f. Enter market price of spin-off symbol:$34.75
g. Enter number of spin-off shares received for each one share of issuer held: 1.0
h. Enter percentage of cost basis retained by issuer (ABT): 47.9751%
i. Enter percentage of cost basis assigned to Spin-off (ABBV): 52.0249%
j. Select all portfolios for spin-off.
k. Apply to all portfolios.
3) Select the IAM Reports and Graphs Menu | Portfolio | Additional Reports | Security Search report.
a. Select the option for individual asset.
b. Select Abbott Laboratories from the drop down list.
c. Mark All portfolios to include for this report.
d. Select the Print button to create this report.
e. Print this report and set aside for later verification of proper spin-off allocations.
f. Repeat these steps to print the Securities Search Report for AbbVie Inc.
g. Now compare the Securities Search Report for Abbott printed in step 1, with the Securities Search Reports printed in step 3. The original basis amount of Abbott should match the combined basis amounts of the Abbott and AbbVie basis after the spin-off allocations. Cost basis dates for lots received of AbbVie should match those dates of Abbott.
4) If verification results are correct, sell any fractional shares of AbbVie received using the IAM Sale transaction type for the cash-in-lieu dollar amount.
5) If verification results are incorrect, you will need to restore the backup created in step 1, and then re-enter following the above steps.