Comcast Spinoff of Versant

WSC
WSC Member ✭✭✭
in Investing (Windows)

I'm looking for help in recording the spinoff from Comcast of the company Versant. What prices and approach should I take in Quicken for Windows Classic Premier to properly capture this?

Answers

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    Here's what I used. I own 70 shares of Comcast. Before these txn there was a $0.01 Cash Balance.

    image.png

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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

    How many lots of Comcast do you own? One lot is easier than mulitple lot.

    For one lot I would:

    • Look at your Comcast basis before and after the spin-off and compute the difference.
    • Take note of how many Versant shares you were due to= 0.04 times your Comcast share quantity.
    • Enter a RtrnCapX transaction for 1/5/26 with: the amount equal to that basis change, and the Market Value field = Versant shares times 40.57, closing VSNT price 1/5/26.
    • Enter an ADD Shares transaction for the full number Versant shares you were due and the acquisition date same as your Comcast shares.
    • Enter a Sold shares transaction selling any fractional Versant share for the Cash-in-lieu amount you received.

    This avoids the screwy MiscIncX transaction that shows up from the Corp Spin-off wizard.

    @NotACPA How does your investment performance report look? Does the Investments column balance the returns as related to this spin-off?

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    @q_lurker That negative MiscInc is "Cumulative _UnrlzdGain" on the spinoff. It was downloaded from Fidelity, as was all of the activity that I posted for the spin-off. Both before and after these txn, there was a $0.01 cash balance in the account.

    And, here's the snip from my Investment Performance report:

    image.png

    And another stock also paid a $29.97 div on 1/6, which is why the cash xferred out is greater than generated by Versant.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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

    @NotACPA Your data baffles me. So no chance you did a Corp Spinoff in your file?

    I can't imagine 'Intuit' in acting as aggregator between Fidelity and Quicken would create the same MiscIncX transaction that Quicken would generate. Further, the Remove of the 0.8 shares is flat out wrong. It is a sale subject to generating a capital gain/loss. Fidelity might have sent that, I suppose, but I rarely see an FI present it as a sale until 1099's come out in the following January. The Buy in your prior snip is also off-base and is going to show as a 1/5/26 lot rather than the date you acquired the Comcast shares. The Corp Spinoff uses (correctly) an Add Shares, not a Buy.

    Could you run the Inv Perf report customized to only Comcast and Versant? I think because cash and the transfer out were included is why the Buy (which should have been an Add) does not show up. Limited to the two securities is when the Investments and Returns column should balance such that the spinoff itself has no effect on performance.

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