Stock Split results in too many shares of stock (2019 closed discussion)

DRMick
DRMick Member ✭✭✭
in Investing (Windows)

Windows 11, Q 65.17

Schwab downloaded a 2:1 Stock Split for ETF XLU that had 24.27 shares before the split. Q downloaded two transactions from Schwab but entered three.. Q entered the 2:1 split, then did another transaction to ADD 24 more shares. And another transaction for Cash in Lieu of fractional shares. Now the account mismatch in Q reports 72.54 shares, while Schwab reports 48.27. So I deleted the ADD 24 transaction. Now the mismatch is Schwab 48,27, Q 48.54. I found a closed discussion in Community about this problem in 2019. What is wrong with this Stock Split operation? Is it broke again?

Comments

  • miklk
    miklk Quicken Windows Subscription SuperUser, Windows Beta Beta

    Quicken handled it correctly. The problem is the broker sent transactions that messed it up.

    The 2 for 1 stock split is the correct transaction.

    The add transaction should just be deleted because the split already took care of the added shares.

    The cash in lieu is correct as that it what usually happens when you have fractional shares. However, what I do is enter it in Quicken as a sell shares instead of the cash received transaction they send.

    The broker transactions just don't always line up with the way Quicken needs the info to be presented.

    The 2 for 1 split you got was all correct. The the split gave you double shares but the broker give cash in lieu instead of the fractional extra. 27 share which is normal.

  • DRMick
    DRMick Member ✭✭✭

    I thought Q software was supposed to adapt to the downloaded transaction, but I guess not. I tried deleting the Add transaction first, but I still had a mismatch. So i had to reentered the ADD and deleted the Stk-Split transaction and got rid of the mismatch. I fixed my immediate problem but I lost confidence in Q to make it right.

  • Tim Johnson
    Tim Johnson Quicken Windows Subscription Member ✭✭✭

    I had the exact same problem with this split in my Schwab account. I think Quicken should reach out to Schwab and request them to at least reconsider not sending the superfluous add shares transaction.

    Tim Johnson, using Quicken since 1993.
  • DRMick
    DRMick Member ✭✭✭

    In my case the ADD transaction is what fixed the problem. Q software's Stock Split routine just doubled the shares, including the fractional shares. Schwab had 2 transactions, Q downloaded 2 from Schawb, then added a 3rd transaction that screwed the results up. Q needs to fix their software.

  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭

    Q needs to fix their software.

    I respectfully disagree. Per State Street, this is a straightforward 2-for-1 split. That is the way Quicken's third party data supplier showed and sent it to Quicken to get downloaded with the quotes. How fractional shares get handled in such a split can vary by company (State Street) and financial institution.

    Schwab's handling of this as a 24 share Add and a Cash in lieu payment is indicative of only distributing the whole shares (24) you were owed and selling the fractional 0.47 share you were owed.

    Chances are the 24 shares added by Schwab have $0 basis. That is incorrect.

    Chances are you will get a 1099 B report in January showing 0.47 shares sold with proceeds equal to the cash-in-lieu amount received and some basis applied to the transactions.

    Those amount to supporting the Quicken 2-for-1 stock split and you needing to record the cash in lieu payment as coming from a sale of the 0.47 shares.

    I never expect the transactions sent by the FI to be what I need for my Quicken. Further, I don’t expect Quicken to alter the information sent by the FI. The program is not in a position to judge the accuracy or adequacy of the information sent by the FI. Adaptation of the data is my responsibility.

  • DRMick
    DRMick Member ✭✭✭
    edited December 2025

    I agree with you in part. Since Q uses Intuit for data download probably means they they have to take what they get. I agree I am responsible for my own data's accuracy, The fact that I choose to use Schwab as a broker is my choice and I am very well satisfied with their service.. State Street appears to be a Schwab competitor.

    The Basis doesn't matter in this case since the security is in an Roth IRA account

    Ok, so even though there were only 2 transactions downloaded from Schwab and Q created another one, I found that share balance was easily fixable by deleting that Q Stock Split transaction.

    But I can't because Q reminds me a Stock Split is missing every time I run OSU. So I found if I make New shares and old shares the same, it is a good Work Around. Q thinks it is good and my share balance is correct again.

  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭

    Or delete the 2 Schwab downloads, keep the 2:1 split, and sell the 0.47 shares for the cash-in-lieu.

    Same transactions are applicable inside and outside of a retirement account.

    If you are satisfied with what you have, carry on.

  • deathrs
    deathrs Quicken Windows Subscription Member ✭✭

    I have a similar problem with stock split transaction download from Fidelity. I am running Quicken Classic Premier on windows.

    Here is what I see:

    Today 1/8/26: I did a transaction download from Fidelity into quicken. The transaction included a stock split transaction for stock SFTBY. The transaction in my account register did not indicate that the transaction was "cleared". I checked (yahoo finance) and indeed there was a 4:1 stock split, effective 1/8/26.

    at this point, nothing has changed in my Quicken account, as to share count, as the transaction is "in process" and not "cleared". All seems correct in Quicken, at this point.

    When I checked my account (as of 1/8/26) at Fidelity and reviewed the transaction activity, it does not have the stock split listed. It does however have a "distribution" of shares listed and is "in process". The share count listed for that "distribution" is equivalent to the shares that will be added for the stock split.

    Next day 1/9/26: Transaction download from Fidelity into Quicken reflects an "added shares" transaction, in Quicken, for SFTBY shares equivalent to those of the split. So, if accepted both transactions, the "split" and "added" I will have doubled the share count from the split.

    What I do: I delete the "added" share transaction and accept the "stock split" transaction. either one would get the share count correct. Accepting the "split" transaction, will allow quicken to adjust the previous shares by lot, which keeps the cost basis correct., Sometimes! I think there is some inaccuracy in how Quicken allocates shares to specific lots in the split calculations.

    My question: how does Quicken get its information for stock splits. Fidelity called the "split" a "distribution" in its activity transaction but Quicken recorded it as an uncleared stock split. This is the part I do not understand.

    I understand the next day when the Fidelity "Distribution" transaction clears, Quicken see this as a "shares Added" transaction.

    Thanks

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