How do I account for cost of dividend reinvestment?

OTTBMom

I have a stock account with a company that charges me a fee for each transaction. So when I get a dividend, even though it's reinvested, they deduct a portion for that cost.

And example: Stock A declares a dividend, and the total I get is $100. But the brokerage keeps $5 for doing the transaction, so I actually only get $95 reinvested -- even though I will have to pay tax on the total dividend of $100. What I find in Quicken is that I can never get the stock price to come out right, because I can only ADD the $5 as a commission.

This (expletive deleted) brokerage also does not allow me to download transactions, so I have to enter them manually. My problem in Quicken is that I can't seem to get that $5 accounted for as a deduction. If I put it in as a commission, the total goes to $105 which of course impacts the price at which the dividend was reinvested. How can I do this properly? Currently I've got the stock set up as just a regular brokerage account with a single "mutual fund" which or course in my case is a stock. Thanks for any help anyone can provide.

J_Mike

An alternate approach:

Use the Reinvested Dividebd transaction.

Enter $95 as the Dividend.

nter $5 as Commision.

The $5 Commiion adds to the Cost Basis and results in a tax advantage of resucd capital gains on future sale,