Entering historical dividend reinvestment transactions in Quicken 2020
sime3000
Member ✭✭✭
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
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
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Comments
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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.2
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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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Will it let you enter the commission as a negative number and if so does that make the calculations correct?QWin Premier subscription0
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Jim_Harman said:Will it let you enter the commission as a negative number and if so does that make the calculations correct?
Appears to me the only way to get the right result right now is the Div & Buy process. (ref @Sherlock above)0 -
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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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This also records the dividend income into the book value/cost basis of the stock... not good at all...0
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bstuder said:This also records the dividend income into the book value/cost basis of the stock... not good at all...
Quicken user since version 2 for DOS, now using QWin Biz & Personal Subscription (US) on Win10 Pro.
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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.QWin Premier subscription0 -
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