Stock warrant

jmorria

I owned Noble (NE)and was issued warrants when they filed for bankruptcy. The warrants have now expired. I have been unable to remove it from my portfolio screen and it says I can't delete the security. I try to hide it but it's still there. I use Quicken classic for Mac. Help!

John_in_NC

If you want to remove the stock/security from your Portfolio, add a (Type) Remove Shares transaction for Noble for the corresponding share balance. This will zero out shares held and will cause it to no longer display in the Portfolio.

You don't want to delete the Security as you once held it.

jacobs

This bankruptcy occurred years ago, so Remove Shares as @John_in_NC explained is the way to simply make your holding in this defunct security "disappear" in Quicken.

But if you want to capture in Quicken your capital loss, for tax purposes, you would want to enter a Sell transaction with a sales price of zero. Claiming the capital loss is done in the tax year your shares became "worthless", but I'm not clear on whether this would be the year of the bankruptcy filing or the year your warrants expired. (And this is irrelevant if you held the stock in a retirement account, since losses within tax-such accounts are not deductible.)

jmorria

It's in a Roth so tax not an issue. I just did a remove shares and they are still there. The transaction is shown but no change to portfolio. Is it because they are warrants ?

jacobs

Is this IRA account connected to a financial institution for downloading transactions? When you look on the financial institution's website, are these shares or warrants still showing in your account? When a Remove Shares transaction doesn't make a change in your holdings, it's almost always because Quicken is maintaining the holdings to match what the financial institution is sending. After the Remove Shares, is there a Placeholder transaction present in your account transactions? (It may be back-dated to the origin of your account.) So if the financial institution is still telling Quicken you hold the warrants, you can enter a manual Sell or Remove Shares transaction but Quicken will counterbalance it with a Placeholder to maintain the holding as reported by the brokerage.

jmorria

Thanks for responding it no longer shows up on my brokerage account just on quicken. Just tried to change remove shares to sell shares but they are still there. I guess I can go back and delete the orinal buy and get rid of it that way.

John_in_NC

As @jacobs noted, a Placeholder is likely counteracting your remove Shares transaction. They're basically balance adjustments for cash/securities.

Scroll to the beginning of the register to check. If you have one. If so, you can delete it. Make sure you have backed up beforehand.

I would not just delete the Buy shares for the security-that will throw your cash balance off. And, you really want to keep your file true to how things happened in real life-even if it wasn't a great outcome as in this case.

Jon

@jmorria The Portfolio screen defaults to showing you your portfolio as of the last day the market was open for trading. When I look at mine this Sunday evening the 22nd, it's dated 2/20, Friday. If you tried to enter a sell transaction dated today, it wouldn't affect the portfolio screen unless you manually adjusted the date to today's date.

For example, I created a test brokerage file and entered a buy transaction for 100 shares of Meta, but when I look at the portfolio page for that account Meta doesn't show up because I didn't own it on Friday. I had to adjust the date forward to today's date to get it to appear.

The same thing could happen with your attempts to remove these warrants - if the remove or sell transactions were dated today but you didn't adjust the portfolio date to today's date it would look like they didn't work.