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Removing fractional shares because UBS doesn't work with them...

Nalgas

Hello all
My wife works for UBS, and therefore, all of my holdings have to be monopolized...I mean, managed by them. Let's leave it there...
Two years ago, a stock split gave me fractional shares of company A (VLNS), and I just learned today that the fractional shares weren't recorded or acquired because of sentence 1 above. Quicken, however, does not know about UBS' ignorance of fractions.
How do I remove them? Do I just do a remove transaction, as simple as that? Will that affect returns, reporting, etc?
Thanks

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Jim_Harman

Normally the fractional share would be sold and the cash in your account should include the proceeds of the sale. I would be surprised if UBS just kept the cash from the partial share, but if so you could record it in Quicken as a Sold followed by a MiscExp to remove the cash. If you assign the MiscExp to an appropriate category and specify the security, this will reduce Quicken's reported performance for the account, as it should IMO.

q_lurker

That sale of the fractional shares and transfer of the cash to you is referred to as "cash-in-lieu", often abbreviated CIL, and is orchestrated by the company. I suggest you review your transaction in that time frame.

Assuming you are talking about the 1-for-3 split in Nov 2021 when the price might have been in the $3/sh range post split, you'd be looking for a CIL transaction of one to two dollars.

Nalgas

q_lurker said:

That sale of the fractional shares and transfer of the cash to you is referred to as "cash-in-lieu", often abbreviated CIL, and is orchestrated by the company. I suggest you review your transaction in that time frame.

Assuming you are talking about the 1-for-3 split in Nov 2021 when the price might have been in the $3/sh range post split, you'd be looking for a CIL transaction of one to two dollars.

thank you Q-Lurk and Jim
This was not a CIL transaction, since UBS simply doesn't deal with fractional shares at all. I didn't catch that when I bought the shares, so I will just remove the 0.666667 shares so that the numbers match. I'm aware that the stock split would have generated a CIL of a buck or two, which isn't important. I simply want Quicken clean and accurate, that's all.
Thanks again guys