Support corporate acquisitions/mergers and divestitures/spin-offs in Quicken (Mac) (4 Merged Votes)
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Totally agree. Seems like they’re more interested in making the program look pretty but not in making it actually useful, especially in tracking transactions required to be tracked for tax reporting purposes. If there is a manual way to adjust share values and holdings to report a corporate spinoff or merger, and the fact that the windows version has had this ability for years, it should be a relatively easy thing for a programmer to program this function into quicken for Mac.1
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I’m beginning to wonder if anybody from quicken actually reads these. There have been several updates to the application since October 2022, but nothing really useful for tracking investments; mostly cosmetics.0
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this would be a very useful feature.
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A very needed feature that needs to be prioritized.0
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Yes, they definitely read them. They just don't have the capacity to act on all the requests. Exactly how they determine their priorities is something we're never privvy to. Has this not gotten acted on yet because they think it affects only a small percentage f the user base? Because it's a big coding project which would take a lot of time away from other priorities? We just don't know.
Quicken Mac Subscription • Quicken user since 19930 -
I would like to thank @jz for the very helpful example posted on page 1 (aug 2020). I found it a very helpful workaround.
Quicken really should prioritize restoring this very important feature (spinoffs, mergers) that was available in Quicken Mac 2007 but was lost since then. The required algebra and coding in an ordinary procedural language appear trivial to me - is it harder to implement in sqlite or whatever db engine is being used?
I’ve had a GE dividend reinvestment account for over 30 years, I’d hate to have to manually manipulate all the lots in that with the spinoff of GE Healthcare.
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Come on Quicken…this seems like a no-brainer.
Please add support Mergers and Aquisitions and Spin Offs!! Windows has, why not add it to the Mac version?!?!?
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I have just wasted hours trying to figure out how to take care of the GEHC spinoff. The recommendations at this site do not work. THe spin-off transaction does not work. Easy work around would be able to directly change the basis cost in specific lots, but that is not possible. WHy am I paying a yearly fee for quicken if they cannot even get something simple like this to work
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I concur with the suggestion that a more automated way to handle a spin-off is needed. As I reinvested dividends (rethinking that now that I see how painful it is to track), this means that for each spin-off, I have to manually make an entry for each lot. For just one stock (GE), they have had two spin-offs since 2015. I hate to envision what the other stocks in my portfolio may have done. At this point, it's debatable whether this is worth my time. I wish I realized how manual/time-consuming it was going to be before starting this process.
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Another vote for the spin-off functionality for Quicken for MAC.
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I was reviewing the WBD spin-off from ATT and what I did in Quicken Mac was:
- A- recorded a return of capital on my T shares in the amount that the broker reduced my cost basis
- B- recorded a Buy transaction for the new WBD shares received in the amount that the broker assigned to the new shares received
- C - recorded the sale of any residual shares as reported by the broker
- A = B + C
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FOUR YEARS after this request was posted on this new board and we seem to be no closer to regaining many of the investment features we had in Quicken for Mac 2007. Oh, it's prettier but far less functional.
My frustration with current status is that there's no one at Quicken that even knows what QM2007 could do. We have other features (QuickMath anyone?) that we've requested that needed explaining to current staff because they can't even launch a copy of QM2007 to see what it can do. (If you find a copy, and an old machine, click on a security in your portfolio view and prepare to be amazed and the graph of that individual security; very helpful!)
So the logic to do these things was in a program that Quicken owns and should have access to and could use as a template for programing. Based on the actions of QM2007, the process for a merger, spinoff, etc. resulted in multiple entries that affected the transaction. It was almost like it used AppleScript to take user data and enter the corresponding entries. I'd think that project could get done much easier that the Quicken staff thinks.
As is I'm spending annually for a product that, as a whole, does less than the 2007 program did but does it with a pretty dashboard. (sigh)
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Are they working on being able to do Spinoffs?
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This is a critical feature if you are going to market this application as handling investments. It is table stakes. Please prioritize this feature. It will save your users time, errors, and frustration. Otherwise it needs to be described as limited functionality.
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This would work except the acquisition date of the spin off shares would be wrong and would impact LT or ST capital gains when you sell. You can use the add shares transaction, use the basis that you calculated in A, and then change the acquisition date to the original date of your purchase of the parent company.
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I am disappointed that quicken (mac) has no way to do a spin-off. I am not sure what I will end up doing. I have used quicken (win) for years, no issue. Maybe I should not use the Mac version? I hope quicken will figure out how to add spin-off soon? Has it really been three years?
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Still an issue today. I had BKCC ⇒ TCPC merger and have to manually do a work around, as others have mentioned. But my cost basis is now off.
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In Quicken Classic Deluxe for Mac, has anyone come up with a way to adjust the cost basis of a stock downward to reflect a spin off?
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MMM spun off Solventum. MMM shares don't change. When I try to just enter the Solventum shares as "added" Quicken goes back and adds in a bunch of weird transactions to add unrealized gains for both MMM and SOLV. These are duplicates for dividends already paid in 2022 and 2023. How can I get Quicken to stop putting in these weird transactions that have no basis in reality and are not coming from my broker?
I think I'll just add the Solventum shares and not mention the spin off part? Not sure what this will do to the tax implications if I ever sell any of these, but I'm a buy and hold person.
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