Dividend & Capital Gains (Long Term & Short Term) Reinvestment

Hector Gonzalez

When you have simultaneous dividend and capital gains reinvestments for the same security it would be helpful to be able to only enter the total number of shares reinvested and have them automatically distributed between the dividend and capital gains on a pro-rata basis based the dollar value of each category (dividend, st capital gain, lt capital gain, etc...)

Mark1104

what security and  what broker?  I suspect that is how the Financial Insitution is reporting it to Quicken.  What you are describing is how my transactions currently work.  I don't see how 'pro-rated basis' would be effective as the FI has to report the exact amount that is dividends and the exact amount that is capital gains.  are you suggesting that you get one transaction today that contains both dividends and capital gains? 

jacobs

@Hector Gonzalez I'm not really seeing what you're suggesting as practical to implement, nor does it seem much faster to enter. You want to be able to enter some sort of multi-reinvestment transaction, enter a total number of shares reinvested, and then enter a sort of split where you enter a reinvestment type (dividends, long term gains, etc.) and dollar amount for each, such that Quicken would calculate the number of shares for each? 

I'm trying to understand; is your issue that your brokerage shows you the price of the capital gains and dividends, but not the shares for each reinvestment individually? I can't imagine having Quicken calculate the number of shares breakdown because of the potential of rounding issues. In a non-retirement account, a slight variation in how the shares are calculated could cause total dividend income and capital gain income to be slightly off, which you don't want since they are reported and taxed differently. But perhaps you can elaborate on what problem you're trying to solve. When I have dividends and capital gains on the same date, my brokerages report those transactions separately -- so it's easy to get them in Quicken whether downloading or, as I do, entering them manually.

NotACPA

When I have a Div and a  CapGN in the same security on the same date, which are reinvested, Fidelity sends me 3 transactions ....the Div, the CapGN and a BUY.  This seems to work well and accurately reports what happened.

IF there's only one income transaction, say the Div gets reinvested, Fidelity sends me a ReinvDiv.

jacobs

NotACPA said:

When I have a Div and a  CapGN in the same security on the same date, which are reinvested, Fidelity sends me 3 transactions ....the Div, the CapGN and a BUY.  This seems to work well and accurately reports what happened.

IF there's only one income transaction, say the Div gets reinvested, Fidelity sends me a ReinvDiv.

I wonder why it isn't done as two transactions: one to reinvest the dividend, one to reinvest the capital gain? Wouldn't that accurately report what happened? (Sorry, I enter my transactions manually, and that's what I would enter in this instance, but I don't know if different brokerages download transactions differently for this occurrence.) 

Rocket J Squirrel

Yes, Fidelity has always gotten this wrong (Quicken-wise) when multiple reinvestments occur on the same date. I always have to pop up a calculator and manually correct the transactions. I personally care about the distinction between Div+Buy and ReinvDiv. Not everyone does.

But the suggestion in this Idea makes no sense to me.