Return of Capital should not be "Not Categorized" transaction (20 Legacy Votes)
Currently, Return of Capital shows up as a Not Categorized transaction. This is a problem when running and Income/Expense reports as I don't want to see Return of Capital as Income... It's not income! It's converting one asset to another asset. I could run the report excluding Not Categorized transactions but I actually want to see Not Categorized transactions in my report. Instead, it would make most sense to either allow the user to categorize Return of Capital transactions OR auto-categorize as a different category (e.g. "Return of Capital"). This way a user can exclude "Return of Capital" and still see all Not Categorized transactions.
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Comments
My workaround would be to use a suitable keyword in the memo field. I commonly use RtrnCap transactions for bond premium amortization, and those transactions always include the keyword 'amortization' in the memo field. I can eliminate those transactions from a report by customizing the 'categories' tab of the report and choosing to exclude those transactions using the leading tilde ~ on the keyword for the memo field. See pic.
"Amort" in the "Memo contains" field would report only those transactions.
"~Amort" in the field excludes all such transactions.
HTH
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Your work around is fine... in the end, it's still a workaround and requires me to ensure I correctly add a memo to ensure it works. Good for short term, not so good for long term.
If you do this, you should see the ROC transactions on things like your category summary reports.
(IMO, this discussion should have only been categorized in this forum to the Win Investment side. But that too is my reading between the lines.)
QM2017 does adjust the cost (tax) basis of the shares held albeit incorrectly when the Return of Capital dividend is reinvested in the security. QM2017 includes the shares that were acquired with the Return of Capital dividend to calculate the per share Return of Capital. The gains and losses reported in Portfolio > Realized Gain and Schedule D of the Tax Schedule reports are wrong as a result.
"Investments:Return of Capital" never appears in the Category Summary report even after you have selected it to be included. If selected, it will be reported in a Category Comparison report but will only be included in the Other section of the report as it is neither an Expense or Income.
Of course, I may have developed a habit of setting "Investments:Return of Capital" in the Description or Category field when I learn that a dividend is a Return of Capital or import my QWIN data into QMAC as part of my review process. I'll have to wait until the end of January when my next dividend is due to find out.
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