CDK acquisition stock sale

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DH1560
DH1560 Member ✭✭
edited September 2022 in Investing (Windows)
I received CDK stock 8 years ago from a spinoff from ADP. CDK was recently acquired and I accepted a Tender Offer. I can't find a way to record the sale of the shares. When I go into the security, there is no option to record the sale or any other transactions. All I've done over the years is record the dividends. I think I may have goofed when I entered the spinoff as a purchase of the stock for $0. I thought since it was recorded as a purchase that should be a way to record the sale. I would appreciate any help offered.
Thank you,
Debi
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Answers

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
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    "I think I may have goofed when I entered the spinoff as a purchase of the stock for $0."
    Yes, you did.  You should have used the "Corporate Securities Spin-off" action.  That should give you the correct number of shares of CDK, with a correct cost basis and a proper reduction of your ADP stock basis.
    You might want to make a backup of your current file, then go "back in time" to that 9/30/2014 date, delete the Sold entry you made and make the correct entry.  I'd expect you'd end up with a fraction of a share of CDK which you should sell using the Cash in Lieu you received as proceeds of the sale.
    If that works for you then I'd expect you should be able to sell the remaining CDK shares.
    I don't understand the sentence "When I go into the security, there is no option to record the sale or any other transactions." That "go into the security" throws me off since I don't know what that means.  If I have a security recorded in Quicken and sell it I don't "go into the security", I simply record a Sold action using that security.
    As a test I created a security, bought it for $0 per share, then sold it with no problems, so I don't think the fact that you "bought" the security for $0 should be a factor here, you should be able to sell it in Quicken, though the capital gain would be overstated.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
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    When you want to sell a security, you do not do it from the Security Detail view, which I think is what you mean when you say "go into the security".

    Instead you should go to the investing account that holds the security, click on Enter Transactions, and select "Sell - Shares sold." "Corporate Securities Spin-off" is another selection under Enter Transactions.
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