GE/Wabtec Spin off

Janine
Member ✭✭
I have been sitting on this since 2019 because every time I try to enter the transaction I get faulty results. Can anyone tell me how to enter the Wabtec spin-off? I get 1 share of Wabtec for every 186 shares of GE stock.
0
Answers
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See this thread, https://community.quicken.com/discussion/7850048/ge-wab-spinoff-with-cash-for-partial-share/p1, found by searching this forum for Wabtec.
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Hi @Janine
I cannot recall exactly why I took this approach (I likely received some information from a source but cannot recall) but on 2/25/19, I first recorded what the transaction memo field calls a "pseudo dividend" of $ 0.38475 per share of GE stock I held. And this was entered as a "cash dividend" which increased the cash in the account. I then recorded a Buy transaction on the same date where I used the cash from the first transaction and "bought" x shares at a price of $76.95 per share. The memo field I entered for this Buy transaction is as follows "To record "purchase" of WAB at avg of high/low 4-day stock price"
What I also know is that fractional shares were not issued for this transaction.
I will see if I can find any other information to support these entries. Let me know if you have any followups.
Frankx
Quicken Home, Business & Rental Property - Windows 10-Home Version
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