Return of capital

Charlie R

Why does RtrnCap show as div income in reports

Charlie R

Inc/Exp then click on Div to see list of Div posted, I always have to re-enter each RtrnCap transaction and delete the RtrnCap post in the list of Div received, then they no longer show in report.

q_lurker

Charlie R said:

It comes from a transaction that was posted as all _DivInc by my broker, when I get my 1099's they change it to part _DivInc and part RtrnCap, so I edit the transaction to match the 1099 and Quicken splits it into 2 transactions, that's when the RtrnCap is posted as _DivInc, so I do delete that post and re-enter it to RtrnCap. I was hoping there was an easier way. Thanks for the help.
I

That is what I suspect is happening.

I think you are saying you edit the original Div to become a RtrnCap at a lesser amount, and then add a second Div for the balance.  Can you edit the original Div to be a lesser amount Div, and then add the RtrnCap?

Or a common way I handle it is to add two transactions usually dated 12/31.  One is the RtrnCap transaction for that full year's amount (puts cash into account from that security).  The second is a MiscExp transaction that takes cash out of account and is categorized against the _DivInc category.  Provided you have not traded shares during the year the basis gets corrected on the shares held, and the full year Dividend then match the 1099.  

Other than these types of finagling, I don't know of an easier way.  IMO, It is a bug that Div trasaction edited to be a RtrnCap continues to appear in (some) Div reports.  Unfortunately, I don't see them fixing this any time soon. 

q_lurker

What reports?

Charlie R

Inc/Exp then click on Div to see list of Div posted, I always have to re-enter each RtrnCap transaction and delete the RtrnCap post in the list of Div received, then they no longer show in report.

q_lurker

When I call up an Income/Expense by Category report including investment accounts, the RtrnCap transactions all show up under "Uncategorized" rather than under _DivInc.  I don't specifically know why yours are under _DivInc.  

There are times that transactions might first be characterized as dividends, but then at year end (through 1099 forms) they get re-characterized as RtrnCap transactions.  It is possible that if you edit the original Div transaction to become a RtrnCap transaction, some internal bit might still be leading the transaction to the _DivInc presentation.  In such a case, it would be necessary to delete the original and enter the correct RtrnCap as a new transaction, as you seem to be doing.  I have seen that behavior with some transaction editing but cannot definitively say it applies to Div-to-RtrnCap edits.  Perhaps you can draw some correlation that way with your data.   

Charlie R

It comes from a transaction that was posted as all _DivInc by my broker, when I get my 1099's they change it to part _DivInc and part RtrnCap, so I edit the transaction to match the 1099 and Quicken splits it into 2 transactions, that's when the RtrnCap is posted as _DivInc, so I do delete that post and re-enter it to RtrnCap. I was hoping there was an easier way. Thanks for the help.
I

q_lurker

Charlie R said:

It comes from a transaction that was posted as all _DivInc by my broker, when I get my 1099's they change it to part _DivInc and part RtrnCap, so I edit the transaction to match the 1099 and Quicken splits it into 2 transactions, that's when the RtrnCap is posted as _DivInc, so I do delete that post and re-enter it to RtrnCap. I was hoping there was an easier way. Thanks for the help.
I

That is what I suspect is happening.

I think you are saying you edit the original Div to become a RtrnCap at a lesser amount, and then add a second Div for the balance.  Can you edit the original Div to be a lesser amount Div, and then add the RtrnCap?

Or a common way I handle it is to add two transactions usually dated 12/31.  One is the RtrnCap transaction for that full year's amount (puts cash into account from that security).  The second is a MiscExp transaction that takes cash out of account and is categorized against the _DivInc category.  Provided you have not traded shares during the year the basis gets corrected on the shares held, and the full year Dividend then match the 1099.  

Other than these types of finagling, I don't know of an easier way.  IMO, It is a bug that Div trasaction edited to be a RtrnCap continues to appear in (some) Div reports.  Unfortunately, I don't see them fixing this any time soon.