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How do I record the T-Mobile Rights transactions in Quicken?

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This discussion was created from comments split from: T-Mobile/Sprint merger.

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Mikejl

Can anyone share how to record the T-Mobile (TMUSR) distribution of rights on 6/26/20? I ended up selling them but don't know how to record the acquisition in Quicken. Thanks for any assistance!

q_lurker

Reference: https://s24.q4cdn.com/400059132/files/doc_downloads/2020/08/_T-Mobile_Tax-Consequences-of-Rights-Offering.pdf

Scanning that document, I see they report the value of the 'Rights' as $0.26 each, it is considered a taxable distribution, and a 1099-Misc will be issued to applicable shareholders. Assuming all that to be true and accurate, I would in Quicken:

Enter a MiscInc transaction for the dollar amount resulting from number of rights received times $0.26. I would assign a category of Misc Income to the transaction, but there are a variety of possibilities there. Depends greatly on your reliance on Quicken's Tax Planner and reliance on Quicken for reporting to you tax related information.
Enter a Buy Shares buying those same number of rights for that dollar amount.
Sell those Rights in whatever fashion and timing is appropriate.

HTH