Fidelity Amazon Stock Splits (QMac)

System

This discussion was created from comments split from: Handling stock splits - ie Amazon.

Stumped_CPA

I have AMZN in a Fidelity account and I do not show either "add shares" or a "stock split". I have the exact same number of shares but the quoted stock price reflects the stock split resulting in my account balance changing markedly.

I am new to Quicken so I have not seen how either Fidelity or Quicken accounts for stock splits but what shows as my account balance in Quicken is vastly different than what Fidelity says my account balance is. Will my updated share count get reflected accurately automatically or will I have to somehow manually adjust the number of shares I have? I see that I can modify Cost Basis fairly easily but it is not apparent how I would add 20x the number of shares I currently show as owned in Quicken.

Could someone please fill me in on what I should expect and what it will require to have everything squared up?
Thanks in advance for the help!

(Note that I actually use Quicken for Mac but this post was precisely on point so I went ahead and added my question here. I am a noobie to Quicken so I don't know if the version of Quicken is relevant to this particular stock split issue.)

Quicken Eli

Hi, Stumped!

First, make sure that you have recently done a "One Step Update" (the circular arrow at the top of the sidebar) to get the latest transactions from Fidelity. They should send you a "Stock Split" transaction with a ratio of 20 to 1. This will update the number of shares and will also keep your existing structure of lots. Your initial cost basis will be accurately assigned to each of the split shares.

If you don't get that transaction from Fidelity in the next day or two, you can just enter the Stock Split yourself.
1. Go to the register for each account in which you hold Amazon stock.
2. Click "+" to add a new transaction.
3. Set the Type to be Stock Split
4. Set the date to 6/6/2022 (that is the date when the new price started getting reported
5. Set the Security to Amazon
6. Set the Split Ratio as 20 for 1
7. Click Save and you should be all set

Quicken Eli

NOTE - Some brokerages send an "Add Shares" transaction to represent the extra shares, rather than a "Stock Split". This will not handle cost basis and holding period correctly, and can also distort calculations of some performance measures. If this happens, you should delete the Add Shares and follow the instructions above to add the Stock Split manually.

max58

Quicken Eli : That's what I did. In my case, Fidelity actually sent both "Stock Split" and "Add Shares" . I deleted "Add Shares" and then edited price prior to June 6 to correctly reflect pre-split prices ( No big deal. Just a few days ) Now everything is clean !