Stock Splits (Q Mac)

Demoleon

I have two securities that had 1 for 1 stock splits this week. Schwab added them to the register as Add Shares (which I"m guessing is a Schwab problem.) So I deleted the Add Shares and manually entered a 1 for 1 stock split but that transaction did nothing. No additional shares were added and a placeholder transaction was added to the bottom of the register for the missing shares. Looks like a pretty straight forward transaction to enter…put in the security and the split ratio. But am I doing something wrong?

Thanks

MontanaKarl

I think you meant a 2:1 split. A 1:1 split does nothing.

I got a couple of Schwab "add shares" yesterday as well for some Vanguard ETFs. In the past, I immediately edited and replaced with the proper split, but one of the superusers here said to give it a few days for Quicken to figure it out. I'm doubtful, but I'm going to wait until the middle of next week before I manually replace the 'add shares' (which messed up my costs basis) with a 'split' (which will do the right thing).

The data the Schwab gives to Quicken has historically been lacking, and they (Schwab) have zero desire to fix it. For example, a matured Treasury shows up as a par-value deposit (not a bond sale) and a zero value null transaction (which should be the interest portion). Quicken themselves could recognize the pattern of Schwab's incorrect downloads and "do the right thing" … which isn't AI, just doing the pattern matching that we have to do manually. They're not interested in that either… in case Schwab some day decides to do the right thing.

Demoleon

Yeah 2 for 1 sorry. But the problem still exists. Nothing happens and the placeholder transaction is added for the missing shares. I've been having an issue with Schwab with 0 dollar transactions coming into Quicken that cause my reconcile to fail once a month. I've sent them screen prints multiple times but crickets. This stock split issue baffles me as it is a very simple transaction. Guess I'll leave it as Add Shares for now.

MontanaKarl

I'm confused that entering a 2:1 split in Quicken doesn't change your total shares and halve the cost basis per share (total cost basis per basis lot should remain the same). Always works for me. The Add Shares can't get your cost basis adjusted correctly and Quicken can't then be used to compute or estimate capital gains (for partial sales). If you haven't used it before, go go an investment account, and click on the "Investment Tools" button on the top right to get to the Capital Gains Estimator feature - which is super handy especially now at year end for tax wash sales…

MontanaKarl

Well, I waited a week and the Schwab stock splits still show in Quicken as “add shares” so I’ll have to manually delete those and add the appropriate 2:1 split transaction to get the basis lots to show correctly.