How do I record a corporate spin-off of an ESPP stock?

Aaron S
Aaron S Member ✭✭
edited January 13 in Investing (Windows)
I am tracking IBM ESPP shares in Quicken. IBM just spun off Kyndryl.

When I go to enter IBM ESPP as the Security name in the Corporate Securities Spin-Off dialog box I get the error "The selected EasyAction cannot be applied to an ESPP security type."

I already discovered the hard way that entering just plain IBM has no effect on the IBM ESPP shares.

So how to do this for ESPP stock?

Answers

  • Aaron S
    Aaron S Member ✭✭
    I see @Sherlock 's post here https://community.quicken.com/discussion/comment/20002799#Comment_20002799 that says "This topic has been discussed a few times in this forum (search for ESSP spinoff). The Corporate Securities Spin-Off wizard does not support ESPP shares." but I'm not getting any hits when I search.

    Do I just now know how to use the Support site? Or are older posts purged? Or something else?
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    edited December 2021
    I suggest you use Kyndryl ESPP shares for the spinoff from IBM ESPP shares.  The Removed and Added transactions may be enterred using the Sold ESPP Shares and the Bought ESPP Shares wizards by choosing No when prompted for source or destination for funds.  The tricky bit is to produce the correct Kyndryl and IBM ESPP lots and prices.  I suggest contacting IBM or your broker to learn the relevant details on the handling of ESPP shares due to the spinoff.

    You should be searching for ESPP spinoff  but the moderators do archive and eventually remove older posts.
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