DRIP transactions

David Moffat

i have securities in a brokerage account with monthly DRIP transactions. i have been using 'Add - Shares Added' as the transaction as the brokerage statements do not provide the cost per share. Is there a report that tells me these $dividends in a period?

Should i really be using 'Reinvest - Income Reinvested' to include the cost per share requiring that i look up the share cost for each transaction? I have six securities per month of this type.

bmciance

If you are not getting the transactions downloaded (or you are not manually entering them) there is no report in Quicken that can give you the $ dividends in the period. What type of securities are these where they don't tell you the amount of the dividends? Do they only pay dividends in shares?

Yes, if at all possible you should be using Reinvest transaction to record the $ dividends and the reinvestment in shares. However, if you don't get the amounts from your broker I don't know how you would do that. With most brokers you would get the two transactions and when downloaded together Quicken combines them into a ReinvDiv (or ReinvInt) transaction (or you would manually enter them as one transaction if you don't download).

Tom Young

"Should i really be using 'Reinvest - Income Reinvested' to include the cost per share requiring that i look up the share cost for each transaction? I have six securities per month of this type."

For accuracy, yes, but you also could simply look up the proper cost basis on the broker(s) site(s) late in the month when you know all the transactions for the month have occurred, then go back to the Adds and fix them. The Adds, when entered, don't really need a basis number; you could leave that field blank and then make the basis entries at month end, without have to do any calculations.

q_lurker

I’d want to enter them as reinvested dividends, especially as a tax time check but also as a performance check.

Does the brokerage provide updated cost basis information? Does that value change when the brokerage posts the additional shares?

NotACPA

If the brokerage is providing the number of shs that are added, are they not also providing the total $ of the dividend?

Because if you've got Qty and total $, Q itself can calculate the per share amount.

NotACPA

@David Moffat What brokerage? And, I'm sorry to disillusion you, but you have more sway with your brokerage (no matter who they are) than Q does.

Their failure to provide the necessary $ would be reason enough for me to "vote with my feet" and change firms.

bmciance

If you are not getting the transactions downloaded (or you are not manually entering them) there is no report in Quicken that can give you the $ dividends in the period. What type of securities are these where they don't tell you the amount of the dividends? Do they only pay dividends in shares?

Yes, if at all possible you should be using Reinvest transaction to record the $ dividends and the reinvestment in shares. However, if you don't get the amounts from your broker I don't know how you would do that. With most brokers you would get the two transactions and when downloaded together Quicken combines them into a ReinvDiv (or ReinvInt) transaction (or you would manually enter them as one transaction if you don't download).

Tom Young

"Should i really be using 'Reinvest - Income Reinvested' to include the cost per share requiring that i look up the share cost for each transaction? I have six securities per month of this type."

For accuracy, yes, but you also could simply look up the proper cost basis on the broker(s) site(s) late in the month when you know all the transactions for the month have occurred, then go back to the Adds and fix them. The Adds, when entered, don't really need a basis number; you could leave that field blank and then make the basis entries at month end, without have to do any calculations.

David Moffat

i download CSV (all that is available and Excel macro to QIF) or enter manually (from paper statements) depending upon the number of transactions, which ever is easier. Neither download nor paper include the total $amount or per share value, just DRIP and the number of shares. Quicken does have the share value as i update the holdings values monthly but does not appear to look at this and tell me the $dividend.

Oh, well. The only time this report might be of value is at tax time to compare my tax slips to Quicken numbers for _Div.

Thank you.

q_lurker

I’d want to enter them as reinvested dividends, especially as a tax time check but also as a performance check.

Does the brokerage provide updated cost basis information? Does that value change when the brokerage posts the additional shares?

NotACPA

If the brokerage is providing the number of shs that are added, are they not also providing the total $ of the dividend?

Because if you've got Qty and total $, Q itself can calculate the per share amount.

David Moffat

to answer several questions:

each statement and on-line provides current share cost at month end, so that is available to use in the Quicken transaction if i look it up, then or later.

no, the transaction from the brokerage only shows the share quantity. no idea why they operate this way, maybe Quicken needs to talk to them.

NotACPA

@David Moffat What brokerage? And, I'm sorry to disillusion you, but you have more sway with your brokerage (no matter who they are) than Q does.

Their failure to provide the necessary $ would be reason enough for me to "vote with my feet" and change firms.

David Moffat

NotACPA. i am one of thousands and they make me a ton of money. You make a valid point but they are the best i have on my side. my money is with four such brokerages and they are number one in terms of returns. give me an advisor who can go from 400K to 700K in 3 years and they are mine. ya, i go high risk.

NotACPA

https://community.quicken.com/discussion/comment/20479856#Comment_20479856

"a ton of money" based upon what base, what amount you have invested? (You don't need to answer that, but calculate what you earned vs. what you have invested). Q can do that calculation for you. Reduce some "% Return" for the hassle's they cause you.

Because last year I earned 28% on one of my Fidelity Investments IRAs, 26% on the other, and they provide Direct Connect download for free, and all of the financial numbers that I could possible use.

The Fidelity oriented newsletter that I subscribe to costs me $300/yr. How does that compare you your fees? (Again, think about it, but you don't need to answer). The Hulbert Financial Digest has rated the newsletter NUMBER 1 for multiple years in a row. I receive a monthly newsletter and weekly (more when the Dow has very large moves) email updates with any instructions.

I'm in Fidelity's "Private Client Group", which gets me some add'l access, but no add'l investments. And I'm VERY generous to my chosen charities, yet I'm able to support a extremely comfortable lifestyle entirely on my investment returns. I don't even sell investments anymore unless that newsletter advises such.