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equity exchange - same name

Unknown
Unknown Member
edited July 2018 in Investing (Windows)
Quicken Deluxe 2016.


I download my transactions from my broker. Sometimes a stock I hold is exchanged for a new version, often without necessarily changing the name other than "new". Nochange in the number of stocks. The download usually includes a "sold" transaction for the old equity and another "buy" transaction for the new equity without a change of numbers of stocks. The downloaded memo field says "..... exchange".


I find this confusing because sometimes only one of the transactions downloads leaving me with a placeholder for the resulting position discrepancy. I recall reading somewhere (can't find it now) that said that was not the proper way to enter such exchanges in Quicken and that I should delete both transactions and replace them with something else. I can't find that recommendation now and don't recall what the correct way to enter such stock exchanges in Quicken.



Do you agree that this is not the best way to enter such stock exchanges in Quicken and what would be the better way?


Thanks.

Comments

  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited December 2017
    Check with your broker to see how the exchange is handled from a taxation perspective.  Its most likely not treated as a buy/sell transaction but check with them first.

    In cases like this I have just changed the name of the security in my security list and deleted the downloaded exchange transaction.
  • Unknown
    Unknown Member
    edited November 2016

    Check with your broker to see how the exchange is handled from a taxation perspective.  Its most likely not treated as a buy/sell transaction but check with them first.

    In cases like this I have just changed the name of the security in my security list and deleted the downloaded exchange transaction.

    Thank you
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