Stock Spin-off - generates transactions in other investment accounts

David.Klein
David.Klein Member
edited May 18 in Investing (Windows)
Hi, has anyone else experienced this problem, and is there any way to avoid it?
- I have two investment accounts, each of which has some of the same stock.
- One account was up-to-date,but I was playing catch-up (a few months behind) on one of the accounts.
- The company spun off shares. This worked fine in the up-to-date account. Everything reconciled in this account.
- Entered the investment transactions in the other account, and performed the same spinoff (including using the temporary stock name).
- Found that, in addition to performing the split in this account, Quicken then added a new set of transactions for the split in the account I had already reconciled, throwing the holdings for the stock (original and new stock) out of whack.

Is this a bug? Why is Quicken creating transactions in other investment accounts other than the one I'm working on?

Thx,
DK.

Best Answers

  • Rocket J Squirrel
    Rocket J Squirrel SuperUser, Windows Beta ✭✭✭✭✭
    Accepted Answer
    A spin-off, like a stock split, is a per-security event, not a per-account event.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    edited April 30 Accepted Answer
    The Corporate Securities Spin-Off wizard has no way of knowing you only want to record the spin-off in one account.  Normally, a spin-off should be applied to all holdings of a security.  It should be a simple matter of deleting the additional transactions and correcting the spun-off security.  If you want to avoid the issue in the future, you may enter the RtrnCap, MiscInc, and Added transactions directly yourself.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    Accepted Answer
     If you want to avoid the issue in the future, you may enter the RtrnCap, MiscInc, and Added transactions directly yourself.

    Or you should make sure all accounts are up-to-date with respect to that security when you first enter the Spinoff wizard.  Yes, it is by design that a spinoff in one account gets applied to all accounts holding that security at that time.  

Answers

  • Rocket J Squirrel
    Rocket J Squirrel SuperUser, Windows Beta ✭✭✭✭✭
    Accepted Answer
    A spin-off, like a stock split, is a per-security event, not a per-account event.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    edited April 30 Accepted Answer
    The Corporate Securities Spin-Off wizard has no way of knowing you only want to record the spin-off in one account.  Normally, a spin-off should be applied to all holdings of a security.  It should be a simple matter of deleting the additional transactions and correcting the spun-off security.  If you want to avoid the issue in the future, you may enter the RtrnCap, MiscInc, and Added transactions directly yourself.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    Accepted Answer
     If you want to avoid the issue in the future, you may enter the RtrnCap, MiscInc, and Added transactions directly yourself.

    Or you should make sure all accounts are up-to-date with respect to that security when you first enter the Spinoff wizard.  Yes, it is by design that a spinoff in one account gets applied to all accounts holding that security at that time.  

  • David.Klein
    David.Klein Member
    Thanks, everyone, for the answering. Yes, I can see that the wizard is applying to all holdings, but I would much rather retain the control of the spin-off process and limit the wizard to applying the changes only to the account on which I'm working. To me, though, it seems like a flaw in the wizard itself in that it would simply dump transactions into an already reconciled account. That completely threw off the other account, along with the 'temporary' security name. At least, I was able to simply manually delete the unwanted transactions.
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