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Why is my Net Worth report not working for one specific account?

Scout_998

If I run the Net Worth report, one account has an incorrect balance. If I dig into the account, I find that a security is still being included in the Net Worth account that was removed in 2016. The balance is correct on the Account panel and the Holdings are correct when I go into the account. It is only when I look at the Net Worth report. The asset that is problematic is Tyco (TYC). We owned it for years and it went through multiple combinations, stock splits and spinoffs that created lots of basis noise. I'm sure I probably didn't do something correctly, but it would be nice to get the data accurately displayed. Any suggestions how to start this project?

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Jim_Harman

Is the remainder just a few pennies, as would be caused by a rounding issue, or much larger, as if the entire holding was never removed?

Scout_998

The remainder is thousands of dollars. The problem has been around for some time. I just lived with it. Hoping to find a solution!

Jim_Harman

OK, first check to see if a Placeholder is causing the problem. Go to Edit > Preferences > Investing transactions and make sure Show hidden transactions is checked. Then in the account register, see if there are one or more Placeholders that are affecting the problem security. Resolving these may fix your problem.

If that's not it, you can do a backup then go to File > File operations > Validate and repair with the Rebuild Investing lots option.

Scout_998

Thanks! Well, I did not see any placeholders until I checked the box to Show Hidden Transactions. The security did show up at that point asking me to "Enter History." However, when I look at it, there are two purchases which appear to be properly recorded and a 1 for 4 reverse split which also seems appropriate. It is quite old. It says the following:

Holdings as of 11/14/2009 Shares Cost
Total Shares You Own 500 10,455.05
Shares from Transactions (Above) 500 10,455.05
Shares in Placeholder Entry 0 0.00

So I'm confused. The holdings are correct AS OF 2009. We had bought two separate lots of 1,000 shares each and the reverse split took the holdings down to 500 shares. I'm not sure what the placeholder is needed to support?

After looking at the transaction register with the hidden transactions reflected, there was a Placeholder present for 500 shares from 2009. I backed up the file then deleted the placeholder. I ran the net worth report and the shares ARE still there. I look at the Holdings in the account and the shares ARE NOT there.

I can move on to the Validate and Repair step but wanted to advise what I found from the first steps before going any further!

Thanks for your help!

Scout_998

I didn't see a response so I went ahead with the Validate and Repair step. It ran for 30 seconds and created a NotePad file. However, the security still exists when I run the Net Worth report even thought it isn't reflected in my Holdings (or my real brokerage account). Any ideas?

Quicken_Tyka

Hello @Scout_998

Thank you for the response and the additional details.

As I do not see that it has been done yet, I would save a backup and run the Validate & Repair option once more, this time selecting the Rebuild Investing Lots. This is located under the File menu > File Operations > Validate & Repair option.

In the Validate File window that opens, click the top box to "validate file" and "Rebuild Investing Lots" then click OK.

Please let us know how it goes!

-Quicken Tyka

Scout_998

Thanks for your help! I did run the Validate and Repair again. I had previously run the process and checked the "Rebuild Investing Lots" box but DID NOT check the "Validate File" box. I did both this time. It took about 3-4 minutes to run. However, nothing appears to be any different. The same security, TYC, is still showing in the net worth report but not in the Account pane or Holdings.

q_lurker

I know that Tyco saga was pretty convoluted over the years. You might take a look at this post (https://community.quicken.com/discussion/7307215/help-with-security-after-merger) to see how your transactions line up with suggestions there. Or maybe your issues predate that line.

What I would likely be doing --

For the transactions list of the account in question, sort by Security (click the security header) so that all Tyco transactions are grouped together.
Make sure all placeholders are deleted
With a Holding view or a Portfolio view and the Net Worth Report, change the As of or Ending dates to match the Tyco transaction dates to see if somewhere something gets off the rails.
If you can identify an off-the-rails date, delete and re-enter transactions on that date.
If you have specified Shares Sold (rather than relying on first-in, first out), you may need to reset those for all later sales and then come back to get them set properly.

Scout_998

As the Tyco saga unfolded, so has my attempt to reconcile the Net Worth report! I tried everything on this string and nothing worked. I did find that I recorded the transactions incorrectly when the spin originally occurred. Thus, I deleted the transactions and re-entered them. I had originally used a return of capital transaction to supply the cash to a purchase - I know that wasn't right but I couldn't get the transaction to reflect appropriately at the time (I didn't notice the Net Worth problem for some time) - and then Bought the securities of the spin stocks. Since I had sold the securities, I could not find a way to record them correctly. Thus, I simply added the securities with the basis I calculated. It is an IRA account so I'm less concerned about the basis/gain on the sale.

The deletion of the Return of Capital and Purchase of the spin co shares eliminated both the cash source and use, thus cash was OK. The addition of the shares didn't impact cash but put back the shares I had sold (share count was negative before the add back). Thus, share counts were fine as well.

This reduced the out of balance condition on the Net Worth report from Over $30,000 of "phantom" equity to $1,088 of Tyco International. I can't find this $1,088 anywhere. As a reminder, I've sold the Tyco International shares and they aren't reflected in the Holdings of the account but there is a value in the Net Worth report. I'm still out of balance, but by a much less material amount. I would like to locate it. In reviewing the activity on this stock, all I see are the following transactions:

1. Original purchase of the shares
2. Two stock splits which appear correctly recorded
3. Lots of Dividends (not reinvested so no pollution of the shares) and Unrealized Gain transactions to record price updates
4. The sale of fractional shares from the merger with Johnson Controls
5. And a Removed transaction to get rid of the shares in the merger (I know this is wrong as well, but if I tried to exchange it I created problems with Johnson Controls - which has also been sold).

Sorry to be a pain as this has turned into a fiasco with the incorrect transactions on my part. Hoping for some insights? Otherwise, I'll just live with the error and get on with my life!

q_lurker

@Scout_998 That is a lot to take in.

3. Lots of Dividends (not reinvested so no pollution of the shares) and Unrealized Gain transactions to record price updates

I am not sure what "Unrealized Gain" transactions are. Can you clarify?

I understand the Net Worth Report is showing a current $1,088 value which you've associated with a Tyco holding. I further understand that a different presentation shows no shares of Tyco currently held. The 'standard' Net Worth Report does not tie to specific any security. Can you clarify where you are seeing this $1,088 value and where you are not -- preferably someplace you see the $1,088 and 0 shares in the same presentation?

The Security Details for your Tyco security should show your total current holdings including shares, cost basis, and market value.