How to enter a new spin-off stock EXC CEG

jackcutrone

I own some Exelon. It just spun off a portion of its value to a new company. For my 150 shares of Exelon, I got 50 shares of a new company, Constellation, is addition to owning the now devalued 150 shares of Exelon. How do I handle that in Quicken?

Sherlock

I suggest you use the Corporate Securities Spin-Off wizard: open the register, press Ctrl + N, select Corporate Securities Spin-Off in the Enter transaction: pull-down menu

jackcutrone

The result was that it added the shares of the new stock to the ledger for the old stock. I had anticipated that it would create a new account in the name of the new stock which is what I would prefer. As it is, I am now getting one value for the combined value of both stocks. I also can't figure out how to calculate the cost basis of the new stock. Any advice would be appreciated.

jackcutrone

I did find the cost basis on a different screen but would still like to have the new stock as a separate account. Any ideas?

q_lurker

jackcutrone said:

I did find the cost basis on a different screen but would still like to have the new stock as a separate account. Any ideas?

So you are keeping each security in its own account?  I consider that rather inefficient, but that is your choice. 

From where you are now, I would create the new account for CEG shares and MOVE the CEG transactions to the new account. Rt-click on a CEG transaction and select the move option. 

Or reconsider that account / security setup. 

jackcutrone

I'll think that through. Thanks

mshiggins

The 8937 was finally posted. They used average of high and low prices on 2/2/2022 to arrive at an allocation:

EXC 70.36%
CEG 29.64%

https://investors.exeloncorp.com/static-files/6d0b7fa9-7620-40a2-acf1-97899d092cc6