[This inquiry probably applies to all Quicken versions.]
I have asked this question in various forums over the years, but never received a satisfactory answer. Can you help me?
When entering a stock split involving fractional shares in Quicken, all lots have the split ratio applied. In reality, a split only results in whole shares from the company.
Example:
1. Before split balance of XYZ company = 123.5678 shares
2. Company split = 2:1
3. "New" shares from XYZ company = 123.5678 shares, credited as
123 shares + cash-in-lieu for the .5678 fractional share
4. After split balance = 123.5678 shares + 123 shares = 246.5678 shares
If I just apply the Quicken split of 2:1, I get 123.5678 x 2 = 247.1356 shares, and no cash-in-lieu. This is wrong.
What are the exact steps I need to follow to get the correct shares, cash-in-lieu, and MOST IMPORTANTLY, the correct cost basis?
I hope you can help!
Thank you all.
I have asked this question in various forums over the years, but never received a satisfactory answer. Can you help me?
When entering a stock split involving fractional shares in Quicken, all lots have the split ratio applied. In reality, a split only results in whole shares from the company.
Example:
1. Before split balance of XYZ company = 123.5678 shares
2. Company split = 2:1
3. "New" shares from XYZ company = 123.5678 shares, credited as
123 shares + cash-in-lieu for the .5678 fractional share
4. After split balance = 123.5678 shares + 123 shares = 246.5678 shares
If I just apply the Quicken split of 2:1, I get 123.5678 x 2 = 247.1356 shares, and no cash-in-lieu. This is wrong.
What are the exact steps I need to follow to get the correct shares, cash-in-lieu, and MOST IMPORTANTLY, the correct cost basis?
I hope you can help!
Thank you all.