handling reinvest dividends in Quicken for MAC

Concordman

Would like to confirm what I plan to do is correct: I download my investments from the Fi, presently the download consists of two transactions , a dividend income & corresponding buy transaction. I recall from QW days that the software allowed one to edit the transactions into a reinvest dividends transaction prior to accepting . 

So the question: In QM is this strictly a manual transaction ? that is , do I edit the dividend income , change type to Reinvest, fill in the shares bought then delete the downloaded buy transaction? Is this the only way to do this & if it is , what is the downside ?

RickO

Yes, in QM it is strictly manual. There is no downside I'm aware of to re-doing the transactions as you describe, other than the time it takes. There is also no downside to just leaving as is other than the slight increase of size of the database and transaction list.

I don't believe this has any impact on basis and gain reporting, although other may have different experience.

smayer97

What version are you on? As per the release notes, QM2017 v4.4.0+, "Quicken will now merge dividend and buy transactions into a single
reinvested dividend transaction which matches the behavior in Quicken
Windows."

(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

RickO

smayer97 (QM2007, CDN user since '92) said:

What version are you on? As per the release notes, QM2017 v4.4.0+, "Quicken will now merge dividend and buy transactions into a single
reinvested dividend transaction which matches the behavior in Quicken
Windows."

(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

Interesting. I missed that in the release notes. But it sure isn't working for me with Fidelity Investments downloads. 

Unknown

If merging them isn't working, I would recommend changing the buy transaction - which already has the number of shares, the purchase price, and the cash amount - by just changing the type to reinvest dividend. Then delete the cash dividend transaction. Much easier!

RickO

RickO said:

Yes, in QM it is strictly manual. There is no downside I'm aware of to re-doing the transactions as you describe, other than the time it takes. There is also no downside to just leaving as is other than the slight increase of size of the database and transaction list.

I don't believe this has any impact on basis and gain reporting, although other may have different experience.

Correction: As smayer97 points out below, this was supposed to have been added in 4.4.0. 

It is not working for me (hence my bad info above) in 4.4.3 with Fidelity Investments downloads as of 1/31/17. 

Concordman .... what brokerage are you downloading from? What version of QM2017? What are the transaction dates?

Concordman

RickO said:

Yes, in QM it is strictly manual. There is no downside I'm aware of to re-doing the transactions as you describe, other than the time it takes. There is also no downside to just leaving as is other than the slight increase of size of the database and transaction list.

I don't believe this has any impact on basis and gain reporting, although other may have different experience.

Using. 4.4.3 , Wells Fargo , as of 2/1/17

RickO

RickO said:

Yes, in QM it is strictly manual. There is no downside I'm aware of to re-doing the transactions as you describe, other than the time it takes. There is also no downside to just leaving as is other than the slight increase of size of the database and transaction list.

I don't believe this has any impact on basis and gain reporting, although other may have different experience.

Are there multiple securities generating dividends in a single download? Do you have any cases where there is a single dividend/buy transaction pair in a download? 

I have a theory that perhaps Quicken is not merging the transactions when there are multiple dividend/buy pairs in a single download because the individual transaction pairs are not consecutive in the download sequence.

Concordman

RickO said:

Yes, in QM it is strictly manual. There is no downside I'm aware of to re-doing the transactions as you describe, other than the time it takes. There is also no downside to just leaving as is other than the slight increase of size of the database and transaction list.

I don't believe this has any impact on basis and gain reporting, although other may have different experience.

Indeed had a single transaction in one of my accounts on 2/1/17.

RickO

RickO said:

Yes, in QM it is strictly manual. There is no downside I'm aware of to re-doing the transactions as you describe, other than the time it takes. There is also no downside to just leaving as is other than the slight increase of size of the database and transaction list.

I don't believe this has any impact on basis and gain reporting, although other may have different experience.

So much for my theory. :-(

Concordman

smayer97 (QM2007, CDN user since '92) said:

What version are you on? As per the release notes, QM2017 v4.4.0+, "Quicken will now merge dividend and buy transactions into a single
reinvested dividend transaction which matches the behavior in Quicken
Windows."

(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

Not working for me on V4.4.3

Concordman

+1 Andy..just "did it your way" in my beta file. Works per your inputs

Concordman

I am going to play with this a bit, going to modify transactions  to reinvest dividends for 2017 only. Too much work going backwards. Wondering if perhaps QM can learn on its own, yeah I know its a stretch but why not 

RCinNJ

smayer97 (QM2007, CDN user since '92) said:

What version are you on? As per the release notes, QM2017 v4.4.0+, "Quicken will now merge dividend and buy transactions into a single
reinvested dividend transaction which matches the behavior in Quicken
Windows."

(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

It is working for me at Vanguard. V4.4.3. 

Concordman

smayer97 (QM2007, CDN user since '92) said:

What version are you on? As per the release notes, QM2017 v4.4.0+, "Quicken will now merge dividend and buy transactions into a single
reinvested dividend transaction which matches the behavior in Quicken
Windows."

(If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

Yes it works with Vanguard