handling reinvest dividends in Quicken for MAC
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 ?
Comments
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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.Quicken Mac Subscription; Quicken Mac user since the early 90s0 -
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."
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(Canadian user since '92, STILL using QM2007)0 -
Interesting. I missed that in the release notes. But it sure isn't working for me with Fidelity Investments downloads.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.)Quicken Mac Subscription; Quicken Mac user since the early 90s0 -
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!0
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Correction: As smayer97 points out below, this was supposed to have been added in 4.4.0.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.
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?Quicken Mac Subscription; Quicken Mac user since the early 90s0 -
Using. 4.4.3 , Wells Fargo , as of 2/1/17RickO 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.0 -
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?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.
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.Quicken Mac Subscription; Quicken Mac user since the early 90s0 -
Indeed had a single transaction in one of my accounts on 2/1/17.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.0 -
So much for my theory. :-(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.Quicken Mac Subscription; Quicken Mac user since the early 90s0 -
Not working for me on V4.4.3What 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.)0 -
+1 Andy..just "did it your way" in my beta file. Works per your inputs0
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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 not0
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It is working for me at Vanguard. V4.4.3.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.)0 -
Yes it works with VanguardWhat 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.)0