Enlink Midstream merger with ONEOK

LittleMasti

Enlink Midstream’s merger with ONEOK: How do I update the merger in Quicken? My Quicken portfolio still shows both stocks. Initially, I thought Charles Schwab would handle the adjustment and Quicken would ingest as usual, but it appears that nothing is happening.

Jon

Quicken Mac doesn't have a specific transaction for stock mergers, so you'd have to use a Remove Shares transaction to remove the EnLink shares, and an Add Shares transaction to add the new shares of ONEOK; if I were doing it I would make a note in the Memo field that these transactions were due to a merger. IIRC the cost basis of the new shares should be the same as the cost basis of the EnLink shares so you'd want to enter that in the Total Cost field of the Add Shares transaction.

If you have multiple lots of EnLink with different cost basis then I would enter one Remove/Add Shares pair of transactions for each one so you can accurately transfer the cost basis over.

NotACPA

Enlink was purchased by OneOK. You should have received 0.1412 sh of OneOK per share of Enlink.

Depending upon which Q product you hold, you could record this as a Corporate Acquisition in your account which previously held Enlink.

The announcement that I saw didn't mention fractional shares … so I don't know if you received them, or if they were automatically sold and you received Cash in Lieu.

What shows on your end of January stmt from Schwab? What was downloaded from Schwab?

Jon

Quicken Mac doesn't have a specific transaction for stock mergers, so you'd have to use a Remove Shares transaction to remove the EnLink shares, and an Add Shares transaction to add the new shares of ONEOK; if I were doing it I would make a note in the Memo field that these transactions were due to a merger. IIRC the cost basis of the new shares should be the same as the cost basis of the EnLink shares so you'd want to enter that in the Total Cost field of the Add Shares transaction.

If you have multiple lots of EnLink with different cost basis then I would enter one Remove/Add Shares pair of transactions for each one so you can accurately transfer the cost basis over.

LittleMasti

https://community.quicken.com/discussion/comment/20475200#Comment_20475200

That makes perfect sense. thanks a bunch!

LittleMasti

Yep, they sold fractional shares and I got the money.

NotACPA

AAAHHH, I didn't notice that this was a QMac thread … sorry for the misdirection.

MontanaKarl

https://community.quicken.com/discussion/comment/20475204#Comment_20475204

You should look at your Schwab online account under the Gains/Loss tab / realized gain/loss to confirm the amount of cost basis that was allocated to the fractional shares and subtract that from the cost basis that you are adding with the Add Shares to OneOK to get your net cost basis to match what is shown at Schwab under your Holdings tab. If you had multiple basis lots of Enlink, it isn't worth the hassle of figuring out the tiny bit of basis per lot that got allocated to the fractional shares in my opinion… I'd just subtract it from the largest basis lot's cost basis for Quicken purposes. (For tax purposes, Schwab will report the correct thing when you eventually sell some or all of OneOK which is all you need and Quicken will be "close enough" in the case of multiple basis lots.)