Recording class action settlement proceeds

#1

Does anyone know which account should class action settlement proceeds be recorded to?

The shares that the settlement relates to were disposed of in the 2009 FY - therefore I cannot record a return of capital on a nil cost base.

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#2

Hi @JYSUPER,

If you are wanting to record a CGT event you need to add 2 transactions

  1. Enter a purchase for the ASX code with a cost base of $0. Use the Contract Date field to enter the original purchase date if you wish for the discounted method to apply.

  2. Use the proceeds to record a disposal for the units entered at step 1

#3

Or a distribution with CGT components could be recorded