Entering historical dividend reinvestment transactions in Quicken 2020

sime3000

I have shares of Comcast stock in a separate account that has been set up as a DRIP. I used "Adjust Share Balance" so that the current number of shares is accurate I am trying to go back and enter older transactions so that its historically accurate and shows all of the dividend reinvestment events since I have been in the DRIP.
Having some confusion mapping the fields from the account statement to the register for this security in Quicken 2020 for Windows.
For one particular reinvestment I received a dividend of $38.64, they applied a fee of $1.93 for the DRIP transaction which left a net amount of $36.71 to reinvest. That $36.71 bought 0.661 shares (share price was at $55.5814). So that all makes sense but I'm not exactly sure how to enter it into Quicken 2020.
If I enter "Reinvest - Income Reinvested" of Dividend = $38.64, shares = .661, Comsission = $1.93. When this appears in the Quicken regsiter its shows .661 shares at $58.456883 each and a Miscellaneous income of + $1.93.
$58.456883 was not the share price and $1.93 was a fee for the transaction, not income.
What am I missing ?

Thanks

Sherlock

I suggest you use the Inc - Income (Div, Int, etc) wizard to enter the dividend of $38.64, the Buy - Shares Bought wizard to enter the purchase of .661 shares for $36.71 with the $1.93 commission.

Tom Young

The other approach you could take here - at the loss of some historical detail - would be to use the "Reinvest - Income Reinvested" wizard and enter ($38.64 - $1.93) in the "Amount" box and .661 shares in the "Shares" box.

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Jim_Harman

Will it let you enter the commission as a negative number and if so does that make the calculations correct?

q_lurker

Jim_Harman said:

Will it let you enter the commission as a negative number and if so does that make the calculations correct?

[QW2017]  Entering the Commission as a negative number seems ignore the $1.93.  It gets listed in the form, the total at the bottom of the form reduces, but no second "MiscExp" appears (+1.93 yields a MiscInc transaction) and the holding for the new lot takes on the full dividend vale as its basis.  

Appears to me the only way to get the right result right now is the Div & Buy process.  (ref @Sherlock above)

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Tom Young

Given the situation you're going to have to make a choice here as to how to go about filling in the blanks.

The method suggested by @Sherlock gives you all the detail about each purchase, the method I suggested might be a little faster, at the loss of the "commission" information.

And, of course, there's higher levels of data entry you might use, like entering summary transactions for the DRIP's activities on a year-by-year basis.

Charitably, if you'd picked up the phone and called either Sherlock or me we probably would have wasted a good amount of your time, too, trying to see if we could get the "Reinvest - Income Reinvested" action to work properly and then spitballing various "workarounds" before coming to our recommendations. 

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bstuder

This also records the dividend income into the book value/cost basis of the stock... not good at all...

Rocket J Squirrel

bstuder said:

This also records the dividend income into the book value/cost basis of the stock... not good at all...

Reinvested dividends do increase cost basis. It is good.

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Jim_Harman

This discussion is similar to this one
https://community.quicken.com/discussion/comment/20165020#Comment_20165020

There is still no one-step solution to record the DRIP fee.

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