Not zero: FediPilot leaves a missing cost base as an open question

What does FediPilot do when a share parcel has no cost base on file?

FediPilot builds the parcel register and capital gains schedule from the broker reports and fund tax statement, and reconciles them to the ATO prefill. When one transferred parcel has no cost base on file, it does not assume zero. The parcel stays an open question, and the cost base is for the accountant to settle.

Transcript

Two broker reports and a fund tax statement. FediPilot builds the parcel register and capital gains schedule, and reconciles them to the ATO prefill. But one parcel was transferred in, with no cost base on file. Calling it zero would be easy. FediPilot won't assume it. It stays an open question, and the cost base is yours to settle. Try it free at home dot fedix dot ai.

The clients, names and files shown in the video are fictional. FediPilot prepares the work; the accountant reviews it.

Sources

• Fedix home page: The 14-day free trial offer and "Nothing is lodged without your approval."
• FediPilot workpapers: Do not turn an unanswered question into a final amount.
• FediPilot recordings: Combines two broker reports and a fund tax statement into a parcel register and capital gains schedule, reconciles them to the prefill extract, and leaves a transferred parcel with no cost base as an open question rather than assuming zero.