natercio
16ae9975ee
Reviewed-on: #35 Co-authored-by: Natercio Moniz <[email protected]>
2.4 KiB
Trading212
Turns Trading212 account statements (CSV) into the internal record model used to build Anexo J reports. This file records how statement events are interpreted, and why.
Spin-off events
A spin-off distributes shares of one company to the shareholders of another.
Trading212 reports it as an Action of Spin off:
Spin off,2026-02-11 13:41:43+00:00,US9418481035,WAT,"Waters",EOF46451921527,0.0406450000,0E-10,USD,,,,0.00,"EUR",,,,,,
These rows are booked as buys with a cost of zero: quantity and timestamp are kept, and every cost column (price, result, total, stamp duty reserve tax, currency conversion fee, French transaction tax) is required to be zero — anything non-zero, or a non-positive quantity, is logged and returned as an error, stopping the run. A row that surprises the reader must be looked at by a human, not silently booked.
Why cost zero is fair
No money was paid for the new shares, and their value came out of the value
of the parent shares — on the distribution date the parent's price drops by
roughly the distributed value. The position's total basis is unchanged; it is
just partitioned over two lots: the spin-off lot at 0 and the parent lot at
its original, unreduced basis. Selling the spin-off lot books full proceeds as
gain; selling the parent lot shows the offsetting smaller gain or bigger loss.
Netted together, the result equals the true economic gain.
Example — buy 100 parent shares for 10,000; a spin-off delivers new shares worth 2,000; later sell the new shares for 2,200 and the parent for 8,100:
| Lot | Basis (cost 0) | Sold for | Gain (cost 0) | Gain (pro-rata) |
|---|---|---|---|---|
| New | 0 | 2,200 | 2,200 | 200 |
| Parent | 10,000 | 8,100 | -1,900 | 100 |
| Total | 300 | 300 |
Either partition of the same 10,000 basis yields the same net gain of 300 (true gain: 10,300 received − 10,000 paid) — as long as gains and losses are assessed together, as they are in Anexo J within the same year. If the two lots are sold in different years the per-year attribution differs (the total does not). Trading212 statements don't report a pro-rata basis allocation, so cost 0 also keeps the report reproducible from the statement alone.
Warning
Verify any outputs of this tool on your own or with a certified accountant.