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Problems with Cost Basis after Contrafund stock split in 2018

I'm using a Windows subscription Quicken Premier version. A while ago I entered a stock split for Contrafund that occurred (10 for 1). What I see in my Quicken register for this account shows a simple addition of shares - with no change to the pricing of the old shares to account for the new price per share post-split. I assume I did something wrong?
How do I reverse the split action I entered months ago and re-enter the stock split correctly so that it will update the price of the older shares?

Best Answer

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Accepted Answer
    Here's how I input that transaction:
    SO,
    • Take a backup
    • Delete that "shares added" transaction
    • Replace with what I've shown

    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP

Answers

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Accepted Answer
    Here's how I input that transaction:
    SO,
    • Take a backup
    • Delete that "shares added" transaction
    • Replace with what I've shown

    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    It suspect you may have a placeholder transaction in place of the split transaction.  If so, I suggest you remove the placeholder and enter the 10 for 1 split transaction.  

    Before making any significant changes to the Quicken file, save a backup: press Ctrl + B
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    TerrenceT said:
    I'm using a Windows subscription Quicken Premier version. A while ago I entered a stock split for Contrafund that occurred (10 for 1). What I see in my Quicken register for this account shows a simple addition of shares - with no change to the pricing of the old shares to account for the new price per share post-split. I assume I did something wrong?
    How do I reverse the split action I entered months ago and re-enter the stock split correctly so that it will update the price of the older shares?
    I'd suggest your download from the brokerage did it wrong.  

    If you see an Add Shares in your transaction list related to this split, you can delete that transaction to 'undo' the bad approach.  You can then enter a StkSplt transaction as NotACPA showed.  
    with no change to the pricing of the old shares to account for the new price per share post-split. 
    Your actual price history information (records) should not be changed.  They should be 10X pricier before the split than after.  

    In looking at the graphical presentation of prices under the Security Detail View, there is a checkbox to toggle prices for the split adjustment.  Unchecked, the graph should take a sharp drop when the split occurred.  Checked, the price history graph should not have the jump.  But the raw data remains static (unchanged).

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