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Reinvested dividends are double counted

Dennis Mahoney
Dennis Mahoney Member ✭✭
edited June 2017 in Investing (Windows)
I have a Capital One Roth investment account where stock dividends are reinvested. When I download my activity from Capital One it shows a cash dividend and a reinvestment of the number of shares that were purchased with the cash dividend. The dividend amount adds to the cash balance (as it should) and the reinvestment adds to the share balance without debiting the cash balance (again as it should) but the net result is to add to my cash balance which shouldn't happen.

Obviously Capital One shouldn't do this (e.g. my Fidelity account works correctly) but how to handle it in Quicken 2016? What is the best way to keep my cash balance correct: should I change the reinvest transaction to a buy transaction or simply delete the dividend transaction? 

Comments

  • Unknown
    Unknown Member
    edited June 2017
    You'll need to do as you mentioned...if that's how you want to go.

    I would just register it in Quicken as a Reinvestment (dividend)...which would accomplish both in one transaction.  

    Apparently, Capital One Roth doesn't seem to be able to do this for you. But seeing how Capital One is a mess with Quicken, I'm not surprised.

    So, you can do it your way...or do it my way...but either will require some manual manipulation of the transactions.

    That being said, do you really want or need to continue to download transactions from CO Roth?  Because if it takes that much effort, why even bother.  Just manually enter the transaction.
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