How do you handle a corporate Spinoff in Quicken for Mac

Geo H

The company, "E", that I am retired from, recently spunoff one of its subsidiaries, company "C", granting 1 share in the new company, "C", for every 3 shares owned in "E". I have done an "ADD SHARES' transactions for the new company using the number of shares of Company "C" reported to me and their value. This transaction calculated a "Cost Basis" amount for that amount.

My problem is I don't now how to reduce the Cost Basis for the shares I hold in company "C", by that same amount.

Is there a transaction in Quicken for Mac that handles this situation? Since there was no reduction of shares of Company "E" in this Spinoff, I tried doing a "SELL" of "E" shares for the amount of the lost Basis using a Qty of 0 for shares, That had no effect on Basis for company "E".

Quicken Jared

Geo H said:

The company, "E", that I am retired from, recently spunoff one of its subsidiaries, company "C", granting 1 share in the new company, "C", for every 3 shares owned in "E". I have done an "ADD SHARES' transactions for the new company using the number of shares of Company "C" reported to me and their value. This transaction calculated a "Cost Basis" amount for that amount.

My problem is I don't now how to reduce the Cost Basis for the shares I hold in company "C", by that same amount.

Is there a transaction in Quicken for Mac that handles this situation? Since there was no reduction of shares of Company "E" in this Spinoff, I tried doing a "SELL" of "E" shares for the amount of the lost Basis using a Qty of 0 for shares, That had no effect on Basis for company "E".

Hello @Geo H,                

I am sorry for any confusion you may have experienced, and I want to thank you for taking the time to draw the attention of the Quicken Community to the subject of spinoffs.

Unfortunately, there is no feature in Quicken Mac that deals specifically with corporate spinoffs. This is something that has been proposed as an Idea for consideration by the Quicken Community in the following discussion linked below:

https://community.quicken.com/discussion/7855454/support-corporate-acquisitions-mergers-and-divestitures-spin-offs-in-quicken-mac-4-merged-votes

Just as an aside, you can always submit proposals for new features in the form of Idea threads here on the Quicken Community. The suggested feature would then be voted on and - based on popularity - passed along to the development team for further consideration. In this case, there is already a thread regarding this feature, so I advise against creating a new one. Here is another thread detailing how to submit other Ideas that may occur to you, however:

https://community.quicken.com/discussion/7849425/creating-and-voting-for-ideas-in-the-community

I hope this is helpful, and feel free to drop by anytime with additional questions or concerns. 

Thank you,

Quicken Jared