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Reinvestment of Dividends

mdscott

Since early August (08/03), all of my Security Reinvestment transactions in Quicken for Mac show two lines in the transaction registry for my Fidelity IRA account. One line shows the Dividend & one line shows as a Buy. Prior to August, registry correctly displayed only one line as a Reinvestment.

I also run Quicken Premier for Windows and transactions always show correctly as a Reinvestment.

Transactions are downloaded via One Step Update for both Quicken Mac & Win early every morning (Tue - Sat).

The total quantity of shares & cost is shown correctly whether it is listed as a Buy or Reinvestment, but something changed within how Quicken for Mac handles Reinvested Dividends.

I have attached Screenshots of Mac Security Detail & Win Security Detail.

Mac Security Details.png

Win Security Details.png

MBPro 16" M5 - macOS Golden Gate 27.0.1

Quicken Premier for Mac Version 9.2.2 (Build 902.61860.100)

Running Parallels Pro version 27.0.2; Windows 11 Home Version 25H2 (Build 26200.9457)

Quicken Premier for Windows Version R69.53 (Build 27.1.69.53)

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Tom Young

"Prior to August, registry correctly displayed only one line as a Reinvestment."

From a pure accounting standpoint a dividend followed by a Buy is exactly the same as a ReinvDiv action.

I've seen this happen in my Accounts from time to time without any explanation but as long as the accounting remains the same - one way or the other - I simply accept it.

Jon

I've seen reinvested dividends download as both a single Reinvest Dividend transaction and as a dual Dividend & Buy. It just depends on the brokerage.

You didn't say whether these investments were money market funds, but if they are it's possible that the change that came out in August allowing users to decide whether MMFs should be tracked as cash or not caused some firms to change the way they report MMF dividends.

mdscott

The screenshots that I had included in my post were for EMHY an ishares ETF. One file is transactions from Quicken Win, the other file from Quicken MAC. Win file shows the transactions as reinvestments, correctly. MAC shows buy transactions starting in August.

I agree the accounting seems to be the same, but if I want to search for reinvestments in Q Mac, from August on, they won’t be shown.

UKR

There has been a change recently where fractional shares are only traded with 3 decimal places.
Before that, your reinvestment transaction always was for the full $ amount received. Therefore it could be downloaded and/or recorded as a single reinvestment transaction with fractional shares calculacted up to 5 or 6 decimal places.

What you get now is two transactions:

a Div transaction adding cash to your account
a Buy transaction "reinvesting" a rounded amount not exceeding the cash dividend, with the number of shares rounded or truncated to 3 decimal places.
The difference, a few cents, will remain as cash in your investment account.

mdscott

UKR, If what you say is true (which I am not doubting), why does reinvestment transactions show correctly in QWin & not in QMac - for exactly the same equity, downloaded at nearly the same time? Equity total values are identical & so is cash in the accounts. I have 5 different equities setup for reinvesting the dividends & since beginning of August the QWin continues to show reinvestments correctly & QMac shows dividends & buys, which should show as reinvestments.

golferddh

Bottom line, QMac use to present reinvested dividends as a single ReinvDiv transaction - now it presents them as two related transactions - DivInc and Buy. It used to record it properly so Quicken why the change and why not go back to the proper way - the way it was?

Chris_QPW

The choice of using ReinvDiv or DivInc and Buy is done by the financial institution, not Quicken.

mdscott

Chris, I beg to differ with you, QWin shows it correctly, QMac changed in August, previously showed the reinvestments as reinvestments. How is this an issue with Fidelity?

Chris_QPW

You might be right.

I do know for a fact that the different financial institutions send these differently on Quicken Windows. If it was Quicken Windows (the program) forcing this then that wouldn't be possible.

Even though Quicken Windows and Quicken Mac share a lot upstream, it isn't 100% so it really isn't possible to tell, I guess. I should have probably made the statement less "certain".

Quicken Inc needs to track down what is exactly happening.

Chris_QPW

BTW It should be easy to prove it is actually Quicken Mac (the program) by going back to a version before the problem started and see if that fixes it. If not, it is "upstream", most likely with the what the financial institution is sending. Conversely if it gets fixed without and update to Quicken Mac you will know that it was something outside of Quicken Mac.