What report shows transactions with a type of CGLongX

dwhubbs

Transactions having an action of CGLongX do not show up on the capital gains report. Is this a known bug and if so, when will there be an update? Is there a know work around?

q_lurker

Those transactions are not intended to show up on the Cap Gains report.  The Cap Gains report is solely for the sales of securities.  

The CGLong and CGShort (X or regular) will show up on a Schedule D Report (LT) and Schedule B Report (ST) (Quicken Premier and above) and in the Tax Summary and Tax Schedule Reports.  They will also be transferred properly to TTax or other tax software.  

q_lurker

Those transactions are not intended to show up on the Cap Gains report.  The Cap Gains report is solely for the sales of securities.  

The CGLong and CGShort (X or regular) will show up on a Schedule D Report (LT) and Schedule B Report (ST) (Quicken Premier and above) and in the Tax Summary and Tax Schedule Reports.  They will also be transferred properly to TTax or other tax software.  

dwhubbs

Thank you for your timely response.

You are correct the Tax Summary report does report transactions having an action of CGLongX . I Currently use Quicken Deluxe to track 3 active investment accounts and to produce all of my year-end reports for the accountants. Maybe, I should think about upgrading to Premier?

However after reviewing the results of my efforts, it appears they are still not what I need.

My problem is this. I am trying to record the results of the Celgene Bristol Myers merger. As I asked in a previous post/question what are the Quicken entries to address this. As I understand the merger there are 3 parts to the transaction.

1:1 stock swap of Celgene to Bristol Myers with a basis of approx 55.90.

$50.00 per share cash payment from Celgene. Resulting in either a short or long term gain

1:1 share issue of BMYRT at a basis of approx. 2.13

Any comments or direction would be greatly appreciated. Would the Premier version or above better handle this situation?

q_lurker

Premier would be no different.

I just posted a more direct answer about the Celgene / BMY transaction on that other relevant thread.  If you want to use your values above rahter than the BMY stated values, that is up to you and your brokerage. The principles are the same.

Jim_Harman

To clarify the answer to your original question, the CGLong and CGLongX investing Actions (they are not Categories) are used to record capital gains distributions.

The amount received goes to the Category _LT CapGnDist and as @q_lurker points out, show up on the Schedule D report, the Tax Schedule report, and the Tax Summary report.

The Capital Gains report is just dealing with the gains and losses on sales of securities.