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Subject Author Date
BellSouth to AT&T Stock Sylvia 01-17-2007
Posted by Jerry Boyle on January 18, 2007, 1:58 am
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 There is no need to eliminate BLS fractional shares from all previous
transactions if they have been held in book form in the BLS Dividend
Reinvestment Program (DRIP). This applies to both reinvested dividends and
stock splits.

I'm sitting right here looking at my BLS quarterly statements for 4Q1998 and
1Q1999. I owned 1276.6017 BLS shares prior to the 2:1 split on 12/3/98 and
2553.2034 shares after the split. No fractional shares were ever sold until
I eventually sold all my BLS shares last year.

Only fractional shares that exist at the time of the acquisition have to be
sold. What I don't know is whether or not fractional BLS shares will be sold
or whether they'll be converted to fractional AT&T shares before any
resulting fractional AT&T shares are sold. This info is probably in the
prospectus.

If that's what's already been said, my apologies for the repetition.

Jerry

> wbertram wrote:
>> Eric:
>>
>> Companies issue and maintain records on fractional shares of stock.
>>
>> Quicken works quite well with fractional shares of stock.
>>
>> Except for those bits of misinformation, the procedure you describe is
>> workable.
>
> wbertram: I think you are misreading what Eric meant. He didn't say
> QUICKEN couldn't handle fractional shares, he was talking about the
> PROCESS of the transferral. Read his #1 again....he indeed states "1. You
> must go back thru ALL of your Bellsouth (BS) transactions and eliminate
> fractions. If they were caused by splits or dividends reinvested you
> received a book entry for the shares including fractions and then the
> fractions were immediately sold for a gain or loss which was long or short
> depending on the original purchase date.". That is nothing to do with
> Quicken; it DOES have to do with the process (Regardless of Quicken) that
> is used in doing the conversion. Clearly he states that fractional shares
> are indeed possible to be owned via splits or reinvested dividends.
>
> Now, I might be misreading what Eric is saying....
>
> --
> -------------------------------------------------------------
> Regards -
>
> - Andrew
>




Posted by Stephen Ciffone on January 18, 2007, 9:26 am
Please log in for more thread options
 I just made the same conversion and it worked out perfectly. It retained my
original cost basis from BLS and created the exact amount of ATT shares. I
am currently using Quicken 2004 Basic.

Here's what I did:

1. Open the investment account containing the BLS shares.

2. Click on the button " Enter Transactions"

3. In the next window, choose "Corporate acquisition (stock for stock)" from
the "enter transaction" box.

4. Enter the details of the takeover. In this case its 1.325 shares of ATT
for every share of BLS. ATT share price on conversion date (put in the
correct date) was $35.50/share.

5. Quicken will then create all the selling and buying transactions
including fractional shares.

I wish it worked as well with stock spin-offs and corporate splits like the
recent Viacom-CBS split.




> There is no need to eliminate BLS fractional shares from all previous
> transactions if they have been held in book form in the BLS Dividend
> Reinvestment Program (DRIP). This applies to both reinvested dividends and
> stock splits.
>
> I'm sitting right here looking at my BLS quarterly statements for 4Q1998
and
> 1Q1999. I owned 1276.6017 BLS shares prior to the 2:1 split on 12/3/98 and
> 2553.2034 shares after the split. No fractional shares were ever sold
until
> I eventually sold all my BLS shares last year.
>
> Only fractional shares that exist at the time of the acquisition have to
be
> sold. What I don't know is whether or not fractional BLS shares will be
sold
> or whether they'll be converted to fractional AT&T shares before any
> resulting fractional AT&T shares are sold. This info is probably in the
> prospectus.
>
> If that's what's already been said, my apologies for the repetition.
>
> Jerry
>
> > wbertram wrote:
> >> Eric:
> >>
> >> Companies issue and maintain records on fractional shares of stock.
> >>
> >> Quicken works quite well with fractional shares of stock.
> >>
> >> Except for those bits of misinformation, the procedure you describe is
> >> workable.
> >
> > wbertram: I think you are misreading what Eric meant. He didn't say
> > QUICKEN couldn't handle fractional shares, he was talking about the
> > PROCESS of the transferral. Read his #1 again....he indeed states "1.
You
> > must go back thru ALL of your Bellsouth (BS) transactions and eliminate
> > fractions. If they were caused by splits or dividends reinvested you
> > received a book entry for the shares including fractions and then the
> > fractions were immediately sold for a gain or loss which was long or
short
> > depending on the original purchase date.". That is nothing to do with
> > Quicken; it DOES have to do with the process (Regardless of Quicken)
that
> > is used in doing the conversion. Clearly he states that fractional
shares
> > are indeed possible to be owned via splits or reinvested dividends.
> >
> > Now, I might be misreading what Eric is saying....
> >
> > --
> > -------------------------------------------------------------
> > Regards -
> >
> > - Andrew
> >
>
>
>



Posted by Sylvia on January 18, 2007, 10:01 am
Please log in for more thread options
I am using Quicken Deluxe 2006 and I do not have Corporate Acquisition
listed under "Enter Transaction". Do I need another version?
Katie


On Thu, 18 Jan 2007 14:26:17 GMT, "Stephen Ciffone"

>I just made the same conversion and it worked out perfectly. It retained my
>original cost basis from BLS and created the exact amount of ATT shares. I
>am currently using Quicken 2004 Basic.
>
>Here's what I did:
>
>1. Open the investment account containing the BLS shares.
>
>2. Click on the button " Enter Transactions"
>
>3. In the next window, choose "Corporate acquisition (stock for stock)" from
>the "enter transaction" box.
>
>4. Enter the details of the takeover. In this case its 1.325 shares of ATT
>for every share of BLS. ATT share price on conversion date (put in the
>correct date) was $35.50/share.
>
>5. Quicken will then create all the selling and buying transactions
>including fractional shares.
>
>I wish it worked as well with stock spin-offs and corporate splits like the
>recent Viacom-CBS split.
>
>
>
>
>> There is no need to eliminate BLS fractional shares from all previous
>> transactions if they have been held in book form in the BLS Dividend
>> Reinvestment Program (DRIP). This applies to both reinvested dividends and
>> stock splits.
>>
>> I'm sitting right here looking at my BLS quarterly statements for 4Q1998
>and
>> 1Q1999. I owned 1276.6017 BLS shares prior to the 2:1 split on 12/3/98 and
>> 2553.2034 shares after the split. No fractional shares were ever sold
>until
>> I eventually sold all my BLS shares last year.
>>
>> Only fractional shares that exist at the time of the acquisition have to
>be
>> sold. What I don't know is whether or not fractional BLS shares will be
>sold
>> or whether they'll be converted to fractional AT&T shares before any
>> resulting fractional AT&T shares are sold. This info is probably in the
>> prospectus.
>>
>> If that's what's already been said, my apologies for the repetition.
>>
>> Jerry
>>
>> > wbertram wrote:
>> >> Eric:
>> >>
>> >> Companies issue and maintain records on fractional shares of stock.
>> >>
>> >> Quicken works quite well with fractional shares of stock.
>> >>
I am using Quicken Deluxe 2006 and I do not have Corporate Acquisition
listed under "Enter Transaction". Do I need another version?
Katie


On Thu, 18 Jan 2007 14:26:17 GMT, "Stephen Ciffone"

>I just made the same conversion and it worked out perfectly. It retained my
>original cost basis from BLS and created the exact amount of ATT shares. I
>am currently using Quicken 2004 Basic.
>
>Here's what I did:
>
>1. Open the investment account containing the BLS shares.
>
>2. Click on the button " Enter Transactions"
>
>3. In the next window, choose "Corporate acquisition (stock for stock)" from
>the "enter transaction" box.
>
>4. Enter the details of the takeover. In this case its 1.325 shares of ATT
>for every share of BLS. ATT share price on conversion date (put in the
>correct date) was $35.50/share.
>
>5. Quicken will then create all the selling and buying transactions
>including fractional shares.
>
>I wish it worked as well with stock spin-offs and corporate splits like the
>recent Viacom-CBS split.
>
>
>
>
>> There is no need to eliminate BLS fractional shares from all previous
>> transactions if they have been held in book form in the BLS Dividend
>> Reinvestment Program (DRIP). This applies to both reinvested dividends and
>> stock splits.
>>
>> I'm sitting right here looking at my BLS quarterly statements for 4Q1998
>and
>> 1Q1999. I owned 1276.6017 BLS shares prior to the 2:1 split on 12/3/98 and
>> 2553.2034 shares after the split. No fractional shares were ever sold
>until
>> I eventually sold all my BLS shares last year.
>>
>> Only fractional shares that exist at the time of the acquisition have to
>be
>> sold. What I don't know is whether or not fractional BLS shares will be
>sold
>> or whether they'll be converted to fractional AT&T shares before any
>> resulting fractional AT&T shares are sold. This info is probably in the
>> prospectus.
>>
>> If that's what's already been said, my apologies for the repetition.
>>
>> Jerry
>>
>> > wbertram wrote:
>> >> Eric:
>> >>
>> >> Companies issue and maintain records on fractional shares of stock.
>> >>
>> >> Quicken works quite well with fractional shares of stock.
>> >>
>> >> Except for those bits of misinformation, the procedure you describe is
>> >> workable.
>> >
>> > wbertram: I think you are misreading what Eric meant. He didn't say
>> > QUICKEN couldn't handle fractional shares, he was talking about the
>> > PROCESS of the transferral. Read his #1 again....he indeed states "1.
>You
>> > must go back thru ALL of your Bellsouth (BS) transactions and eliminate
>> > fractions. If they were caused by splits or dividends reinvested you
>> > received a book entry for the shares including fractions and then the
>> > fractions were immediately sold for a gain or loss which was long or
>short
>> > depending on the original purchase date.". That is nothing to do with
>> > Quicken; it DOES have to do with the process (Regardless of Quicken)
>that
>> > is used in doing the conversion. Clearly he states that fractional
>shares
>> > are indeed possible to be owned via splits or reinvested dividends.
>> >
>> > Now, I might be misreading what Eric is saying....
>> >
>> > --
>> > -------------------------------------------------------------
>> > Regards -
>> >
>> > - Andrew
>> >
>>
>>
>>
>

Posted by Bob L. on January 18, 2007, 10:32 am
Please log in for more thread options
Sylvia
        You must have Bell South set up as a "Single Mutual Fund" account. Go
the Summary tab of that account and click on the "yes" beside Single
Mutual fund and change it to a brokerage account. Then do as per the
earlier advice. (Will take a while to get used to fact that share
balance doesn't show up automatically but you will find that's not a
problem over time)

Bob L.

Sylvia wrote:
> I am using Quicken Deluxe 2006 and I do not have Corporate Acquisition
> listed under "Enter Transaction". Do I need another version?
> Katie
>
>
> On Thu, 18 Jan 2007 14:26:17 GMT, "Stephen Ciffone"
>
>> I just made the same conversion and it worked out perfectly. It retained my
>> original cost basis from BLS and created the exact amount of ATT shares. I
>> am currently using Quicken 2004 Basic.
>>
>> Here's what I did:
>>
>> 1. Open the investment account containing the BLS shares.
>>
>> 2. Click on the button " Enter Transactions"
>>
>> 3. In the next window, choose "Corporate acquisition (stock for stock)" from
>> the "enter transaction" box.
>>
>> 4. Enter the details of the takeover. In this case its 1.325 shares of ATT
>> for every share of BLS. ATT share price on conversion date (put in the
>> correct date) was $35.50/share.
>>
>> 5. Quicken will then create all the selling and buying transactions
>> including fractional shares.
>>
>> I wish it worked as well with stock spin-offs and corporate splits like the
>> recent Viacom-CBS split.
>>
>>
>>
>>
>>> There is no need to eliminate BLS fractional shares from all previous
>>> transactions if they have been held in book form in the BLS Dividend
>>> Reinvestment Program (DRIP). This applies to both reinvested dividends and
>>> stock splits.
>>>
>>> I'm sitting right here looking at my BLS quarterly statements for 4Q1998
>> and
>>> 1Q1999. I owned 1276.6017 BLS shares prior to the 2:1 split on 12/3/98 and
>>> 2553.2034 shares after the split. No fractional shares were ever sold
>> until
>>> I eventually sold all my BLS shares last year.
>>>
>>> Only fractional shares that exist at the time of the acquisition have to
>> be
>>> sold. What I don't know is whether or not fractional BLS shares will be
>> sold
>>> or whether they'll be converted to fractional AT&T shares before any
>>> resulting fractional AT&T shares are sold. This info is probably in the
>>> prospectus.
>>>
>>> If that's what's already been said, my apologies for the repetition.
>>>
>>> Jerry
>>>
>>>> wbertram wrote:
>>>>> Eric:
>>>>>
>>>>> Companies issue and maintain records on fractional shares of stock.
>>>>>
>>>>> Quicken works quite well with fractional shares of stock.
>>>>>
>>>>> Except for those bits of misinformation, the procedure you describe is
>>>>> workable.
>>>> wbertram: I think you are misreading what Eric meant. He didn't say
>>>> QUICKEN couldn't handle fractional shares, he was talking about the
>>>> PROCESS of the transferral. Read his #1 again....he indeed states "1.
>> You
>>>> must go back thru ALL of your Bellsouth (BS) transactions and eliminate
>>>> fractions. If they were caused by splits or dividends reinvested you
>>>> received a book entry for the shares including fractions and then the
>>>> fractions were immediately sold for a gain or loss which was long or
>> short
>>>> depending on the original purchase date.". That is nothing to do with
>>>> Quicken; it DOES have to do with the process (Regardless of Quicken)
>> that
>>>> is used in doing the conversion. Clearly he states that fractional
>> shares
>>>> are indeed possible to be owned via splits or reinvested dividends.
>>>>
>>>> Now, I might be misreading what Eric is saying....
>>>>
>>>> --
>>>> -------------------------------------------------------------
>>>> Regards -
>>>>
>>>> - Andrew
>>>>
>>>
>>>

Posted by Sylvia on January 18, 2007, 10:57 am
Please log in for more thread options
Thanks very much, Bob. That was exactly the problem and I now have it
corrected. I think I can handle the rest from here. Again, many
thanks.
Sylvia

On Thu, 18 Jan 2007 15:32:39 GMT, "Bob L."

>Sylvia
>        You must have Bell South set up as a "Single Mutual Fund" account. Go
>the Summary tab of that account and click on the "yes" beside Single
>Mutual fund and change it to a brokerage account. Then do as per the
>earlier advice. (Will take a while to get used to fact that share
>balance doesn't show up automatically but you will find that's not a
>problem over time)
>
>Bob L.
>
> Sylvia wrote:
>> I am using Quicken Deluxe 2006 and I do not have Corporate Acquisition
>> listed under "Enter Transaction". Do I need another version?
>> Katie
>>
>>
>> On Thu, 18 Jan 2007 14:26:17 GMT, "Stephen Ciffone"
>>
>>> I just made the same conversion and it worked out perfectly. It retained my
>>> original cost basis from BLS and created the exact amount of ATT shares. I
>>> am currently using Quicken 2004 Basic.
>>>
>>> Here's what I did:
>>>
>>> 1. Open the investment account containing the BLS shares.
>>>
>>> 2. Click on the button " Enter Transactions"
>>>
>>> 3. In the next window, choose "Corporate acquisition (stock for stock)" from
>>> the "enter transaction" box.
>>>
>>> 4. Enter the details of the takeover. In this case its 1.325 shares of ATT
>>> for every share of BLS. ATT share price on conversion date (put in the
>>> correct date) was $35.50/share.
>>>
>>> 5. Quicken will then create all the selling and buying transactions
>>> including fractional shares.
>>>
>>> I wish it worked as well with stock spin-offs and corporate splits like the
>>> recent Viacom-CBS split.
>>>
>>>
>>>
>>>
>>>> There is no need to eliminate BLS fractional shares from all previous
>>>> transactions if they have been held in book form in the BLS Dividend
>>>> Reinvestment Program (DRIP). This applies to both reinvested dividends and
>>>> stock splits.
>>>>
>>>> I'm sitting right here looking at my BLS quarterly statements for 4Q1998
>>> and
>>>> 1Q1999. I owned 1276.6017 BLS shares prior to the 2:1 split on 12/3/98 and
>>>> 2553.2034 shares after the split. No fractional shares were ever sold
>>> until
>>>> I eventually sold all my BLS shares last year.
>>>>
>>>> Only fractional shares that exist at the time of the acquisition have to
>>> be
>>>> sold. What I don't know is whether or not fractional BLS shares will be
>>> sold
>>>> or whether they'll be converted to fractional AT&T shares before any
>>>> resulting fractional AT&T shares are sold. This info is probably in the
>>>> prospectus.
>>>>
>>>> If that's what's already been said, my apologies for the repetition.
>>>>
>>>> Jerry
>>>>
>>>>> wbertram wrote:
>>>>>> Eric:
>>>>>>
>>>>>> Companies issue and maintain records on fractional shares of stock.
>>>>>>
>>>>>> Quicken works quite well with fractional shares of stock.
>>>>>>
>>>>>> Except for those bits of misinformation, the procedure you describe is
>>>>>> workable.
>>>>> wbertram: I think you are misreading what Eric meant. He didn't say
>>>>> QUICKEN couldn't handle fractional shares, he was talking about the
>>>>> PROCESS of the transferral. Read his #1 again....he indeed states "1.
>>> You
>>>>> must go back thru ALL of your Bellsouth (BS) transactions and eliminate
>>>>> fractions. If they were caused by splits or dividends reinvested you
>>>>> received a book entry for the shares including fractions and then the
>>>>> fractions were immediately sold for a gain or loss which was long or
>>> short
>>>>> depending on the original purchase date.". That is nothing to do with
>>>>> Quicken; it DOES have to do with the process (Regardless of Quicken)
>>> that
>>>>> is used in doing the conversion. Clearly he states that fractional
>>> shares
>>>>> are indeed possible to be owned via splits or reinvested dividends.
>>>>>
>>>>> Now, I might be misreading what Eric is saying....
>>>>>
>>>>> --
>>>>> -------------------------------------------------------------
>>>>> Regards -
>>>>>
>>>>> - Andrew
>>>>>
>>>>
>>>>

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