Need help untangling a Reverse Stock Split

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DRMick
DRMick Member ✭✭✭
edited February 2023 in Investing (Windows)
A stock I held for a while issued 345 shares in another company instead a dividend this quarter.  That company, OP, did a 10-1 reverse split.  Now broker shows I have 34 shares and cash in lieu of a fractional share.  All that is understandable.  

But I can't get Q to enter these transactions as the broker lists them.
Q keeps entering placeholders and asking for history.  

345 shares value on 12/19/22 was $59.82,
Broker list the cost basis as $Zero as of 12/29
This is in an IRA account, not immediately taxable this year.
What would be the correct list of transactions to satisfy Quicken? .  

Brokers transaction list:
Date Action Symbol Description Quantity Amount
12/19/2022 Stock Div Dist OP OCEANPAL INC F 345
12/22/2022 Reverse Split OP OCEANPAL INC F 34
12/22/2022 Reverse Split Y6430L103 OCEANPAL INC XXXREV -345
12/28/2022 Cash In Lieu OP OCEANPAL INC F $0.59
12/28/2022 Cash In Lieu Y6430L103 OCEANPAL INC XXXREV    $0.85
12/29/2022 Cash In Lieu Adj Y6430L103 OCEANPAL INC XXXREV   ($0.85)
12/29/2022 Cash In Lieu OP OCEANPAL INC F $0.08
OCEANPAL INC XXXREVERSE SPLIT EFF: 12/22/22

Comments

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    Options
    Diana Shipping (DSX) distributed shares of OceanPal (OP) November 30, 2021, not this quarter. I’ll assume you have that ‘dividend’ properly recorded with the proper basis and effective acquisition date for your 345 shares of OP. 
    I’d delete the downloaded transactions associated with this split. 
    12/22/22 StkSplt OP 1:10
    That should change your OP holding from 345 to 34.5 shares without changing the total basis of that holding. 
    12/28/22 Sell 0.5 shares of OP. It appears the sale amount totals to $0.67 (= 0.59 + 0.08). You will have a small gain or loss on that sale and this step will slightly reduce the basis of your holding. Your OP shares should now be at 34 shares. 
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    Options
    Further note: the CUSIP of OP may have changed because of this reverse split. If you still get the security mismatch warning, edit Security Details for OP and uncheck the box about matched with online security. You next download should then prompt you to again match the broker’s current OP to your Quicken version of OP. 
  • DRMick
    DRMick Member ✭✭✭
    Options
    Thanks for the advice on OP, I will follow it.  I did not own any DSX in 2021 so I missed out on that OP distribution event. 
This discussion has been closed.

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