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How to Record WABTEC Spinoff from GE

I have Quicken Premier 2020 and running Win 10. On 2-28-19 ( 1.5 years ago) I received a small number of shares of WABTEC Corp which GE spun off. I have not recorded this transaction , thus stock not showing in my holdings. How do I properly record the transaction in Quicken ? Thank you.

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Answers

  • Greg_the_GeekGreg_the_Geek SuperUser, Windows Beta ✭✭✭✭✭
    Accepted Answer
    Quicken Subscription HBRP - Windows 10
  • jjrichardsjjrichards Member ✭✭
    Greg:
    Thank you for the response . When I read the thread it looks like I have to record the WABTEC transaction as a "buy" in lieu of " spinoff". I pasted below from thread. Let me know your thoughts
    Thanks Jeff
    Multiply your number of GE shares on 2/25/19 by 0.005371. That's the number of WABTEC shares you received.
    Multiply the number of WABTEC shares received by $73.96.
    Enter that resulting dollar amount as a dividend from GE on 2/25/19
    Buy the number of shares of WABTEC per step 1 at a per share price of $73.96. That should wipe out the cash received in the dividend.
    Divide the Cash in Lieu by the fractional number of shares received as determined in step 1. That's your selling price.
    Sell the fractional share by the per share selling price determined by Step 5. That should result in cash in your account in the amount of the CIL.
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