Reinvestment Transactions
in [Quicken]
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From: Zaidy036 on 23 Mar 2010 11:27 Using Q 2008 Premier R9 on 64 bit Win 7 In the past Q would accept Reinvestment Transactions (Div, LTCG, etc.) and enter multiple transactions as required to show the income and purchase separately. Example: Reinvest Dividend $10 for 2.50 shares would result in two transactions: Income: _Div or _DivX $10 Buy: _Buy or _BuyX 2.50 shares Now there is only one transaction _ReInvest and then the _Div is NOT included in Itemized Category Reports but only in Investment Income Reports. I can find no setting in Q to return to the multiple transaction version. Questions: 1. Does Q 2010 do the same thing ? 2. Is there a workaround besides not using ReInvestment transactions ?
From: Richard on 23 Mar 2010 13:03 After reading your post, I thought "huh, he's got to be kidding. But your are correct, I get the same result in Q2008R9 on Windows 7 64bit. One would think that when you run an Itemized Category Report to include "everything", everything would be included. I tried various customizations, check the "tax status" of my investment accounts and still couldn't get the "IC" reports correct. I don't run reports very often, usually only at tax time and limited to tax related reports. Something appears broken, but I would guess since we'll dealing with Q2008 there's no hope of it getting fixed. I can't address your Q2010 questions. I plan on updating later this year to Q2011, assuming there will be one, to maintain the import/export capability between TurboTax and Quicken. I believe that TT09 was the last year that Quicken 2008 will import to TurboTax. I usually don't update until I'm forced to. Hopefully, either John Pollard or R.C. White will see these posts and be able to shed light on this issue. -- Richard "Zaidy036" <Zaidy036NOSPAM(a)optonline.net> wrote in message news:MPG.2611f614c8d7229e989693(a)news.eternal-september.org... > Using Q 2008 Premier R9 on 64 bit Win 7 > > In the past Q would accept Reinvestment Transactions (Div, LTCG, etc.) and > enter multiple transactions as required to show the income and purchase > separately. > > Example: > Reinvest Dividend $10 for 2.50 shares > would result in two transactions: > Income: _Div or _DivX $10 > Buy: _Buy or _BuyX 2.50 shares > > Now there is only one transaction _ReInvest and then the _Div is NOT > included > in Itemized Category Reports but only in Investment Income Reports. > > I can find no setting in Q to return to the multiple transaction version. > > Questions: > 1. Does Q 2010 do the same thing ? > 2. Is there a workaround besides not using ReInvestment transactions ?
From: John Pollard on 23 Mar 2010 17:15 Zaidy036 wrote: > Using Q 2008 Premier R9 on 64 bit Win 7 > > In the past Q would accept Reinvestment Transactions (Div, LTCG, > etc.) and enter multiple transactions as required to show the income > and purchase separately. > > Example: > Reinvest Dividend $10 for 2.50 shares > would result in two transactions: > Income: _Div or _DivX $10 > Buy: _Buy or _BuyX 2.50 shares > > Now there is only one transaction _ReInvest and then the _Div is NOT > included in Itemized Category Reports but only in Investment Income > Reports. > > I can find no setting in Q to return to the multiple transaction > version. > > Questions: > 1. Does Q 2010 do the same thing ? > 2. Is there a workaround besides not using ReInvestment transactions ? I think your partially confused about what was happening and what is happening. Quicken doesn't create the transactions you download ... they're created by your financial institution. I have seen reinvested dividend transactions downloaded as one, two, or even three different transactions .... depending on which of my financial institutions I'm downloading from and what account type holds the involved securities. In my case, accounts that hold purely mutual funds normally download a single reinvestment transaction; while brokerage type accounts almost always download two or three transactions for a reinvestment transaction. But, the change in what was downloaded caused you to end up with one ReinvDiv transaction, where before you had a Div and a Buy. Both methods create the same basic result as far as shares owned and cost basis ... but there is a bug in Q2008 (and, I believe, in Q2009) that does not include ReinvDiv transactions in some reports. That bug appears to be fixed in Q2010 (at least in the newest release, R8). [To be specific, I only checked the Itemized Categories report, the Banking Transactions report and the Tax Schedule report in Q2010. All showed ReinvDiv transactions ... categorized to "_DivInc".] -- John Pollard news://<YOUR-NNTP-NEWSERVER-HERE>/alt.comp.software.financial.quicken Your source of user-to-user Quicken help
From: Zaidy036 on 23 Mar 2010 18:06 In article <hobb1l$n9$1(a)news.eternal-september.org>, 8plus7isf(a)gmail.com says... > > Zaidy036 wrote: > > Using Q 2008 Premier R9 on 64 bit Win 7 > > > > In the past Q would accept Reinvestment Transactions (Div, LTCG, > > etc.) and enter multiple transactions as required to show the income > > and purchase separately. > > > > Example: > > Reinvest Dividend $10 for 2.50 shares > > would result in two transactions: > > Income: _Div or _DivX $10 > > Buy: _Buy or _BuyX 2.50 shares > > > > Now there is only one transaction _ReInvest and then the _Div is NOT > > included in Itemized Category Reports but only in Investment Income > > Reports. > > > > I can find no setting in Q to return to the multiple transaction > > version. > > > > Questions: > > 1. Does Q 2010 do the same thing ? > > 2. Is there a workaround besides not using ReInvestment transactions ? > > I think your partially confused about what was happening and what is > happening. > > Quicken doesn't create the transactions you download ... they're created > by your financial institution. I have seen reinvested dividend > transactions downloaded as one, two, or even three different transactions > ... depending on which of my financial institutions I'm downloading from > and what account type holds the involved securities. In my case, accounts > that hold purely mutual funds normally download a single reinvestment > transaction; while brokerage type accounts almost always download two or > three transactions for a reinvestment transaction. > > But, the change in what was downloaded caused you to end up with one > ReinvDiv transaction, where before you had a Div and a Buy. Both methods > create the same basic result as far as shares owned and cost basis ... but > there is a bug in Q2008 (and, I believe, in Q2009) that does not include > ReinvDiv transactions in some reports. > > That bug appears to be fixed in Q2010 (at least in the newest release, > R8). [To be specific, I only checked the Itemized Categories report, the > Banking Transactions report and the Tax Schedule report in Q2010. All > showed ReinvDiv transactions ... categorized to "_DivInc".] Thanks for the answer John. Since it appears to be fixed in 2010 I will update soon instead of waiting for 2011 and the "sunset" of my 2008.
From: R. C. White on 23 Mar 2010 22:25 Hi, Zaidy036. I agree with John Pollard: The mechanics of "how to get it done" are less important than the final results. When the dust has settled from the Reinvestment transaction, you should have 3 results (figures for your example): 1. Dividend Income ($10) - probably in _DivInc. 2. New shares (2.5) - in the Asset Account where that investment is recorded. 3. Cost basis in those new shares equal to the dividend ($10 / 2.5 = $4 per share) The cost basis per share can be computed by simply dividing #2 by #1 - but that can be done at any time up to the date of sale, so long as the facts are properly recorded now. And the "per share" may never matter, such as if the entire holding is sold in a single transaction. RC -- R. C. White, CPA San Marcos, TX (Retired. No longer licensed to practice public accounting.) rc(a)grandecom.net Microsoft Windows MVP (Using Quicken Deluxe 2010 and Windows Live Mail in Win7 x64) "Zaidy036" <Zaidy036NOSPAM(a)optonline.net> wrote in message news:MPG.2611f614c8d7229e989693(a)news.eternal-september.org... > Using Q 2008 Premier R9 on 64 bit Win 7 > > In the past Q would accept Reinvestment Transactions (Div, LTCG, etc.) and > enter multiple transactions as required to show the income and purchase > separately. > > Example: > Reinvest Dividend $10 for 2.50 shares > would result in two transactions: > Income: _Div or _DivX $10 > Buy: _Buy or _BuyX 2.50 shares > > Now there is only one transaction _ReInvest and then the _Div is NOT > included > in Itemized Category Reports but only in Investment Income Reports. > > I can find no setting in Q to return to the multiple transaction version. > > Questions: > 1. Does Q 2010 do the same thing ? > 2. Is there a workaround besides not using ReInvestment transactions ?
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