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.