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Subject Author Date
Corporate spin off in Q2006 gbottolfsen 04-03-2007
Posted by John Pollard on April 7, 2007, 10:16 am
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 dllapides wrote:
>>> You don't need the extra MiscExp transaction; just
>>> modify the Return of Capital transaction to "transfer"
>>> the cash back into the investment account itself.
>>> --
>>> John Pollard

> John--
>
> Your suggestion worked for my Altria holdings held in my
> plain vanilla brokerage account.
>
> But the "Return of Capital -- Transfer" transaction is
> NOT available for IRA accounts. (I also hold Altria in
> an IRA rollover account from an old 401(k).)
>
> But the "Cash Withdrawal" transaction allows a transfer
> to itself ("WithdrwX") and eliminates the cash balance
> created from my Return of Capital. I get to use Fudge
> after all. <grin>

You're so right; I hadn't really thought about that, though I
knew it was possible to hold stocks in retirement accounts.
Interestingly, if you had left the Quicken account type as 401k
(which I'm not recommending), you would have been able to
transfer the Return of Capital back into the 401k account.

I'm not sure what Intuit's reasoning is in preventing some IRA
account transactions from having their normal transfer ability,
while allowing others to function normally. Transfers into and
out of IRA accounts do have potentially special considerations,
but so do other tax-deferred accounts: I can't see the reasoning
behind the current Quicken policy.

--
John Pollard
First initial underscore Last name at mchsi dot com
Please reply to newsgroup



Posted by gbottolfsen on April 9, 2007, 10:01 am
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> Hello
>
> Why do Quicken software "Engineers" make a simple thing, so damm
> hard????
>
> I am trying to do a corporate spin off of Kraft from Philip Morris
[MO],
> the spin off option in the drop down menu under action for a new
> transaction [Q2006] does not work correctly [the number of shares and
> price are not correct]
>
> Maybe I am entering the wrong information? What numbers are they
asking
> for in the boxes under the "spin off" action?
>SNIP

Hello

I followed all the suggestions [the one's that applied to my plight].

Everything worked as advertised, [helps when I input the correct
numbers].

I want to say "thank you" to all that replied.

All is appreciated.

GB


Posted by gbot on April 16, 2007, 10:50 pm
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>
> > Hello
> >
> > Why do Quicken software "Engineers" make a simple thing, so damm
> > hard????
> >
> > I am trying to do a corporate spin off of Kraft from Philip Morris
> [MO],
> > the spin off option in the drop down menu under action for a new
> > transaction [Q2006] does not work correctly [the number of shares
and
> > price are not correct]
> >
> > Maybe I am entering the wrong information? What numbers are they
> asking
> > for in the boxes under the "spin off" action?
> >SNIP
>
> Hello
>
> I followed all the suggestions [the one's that applied to my plight].
>
> Everything worked as advertised, [helps when I input the correct
> numbers].
>
> I want to say "thank you" to all that replied.
>
> All is appreciated.
>
> GB
>

Hi All:

Continuation of saga from above!

Every thing with the Kraft spin off from MO is a bag of worms, why can't
intuit get things right, if they would just improve on the program from
year to year, instead of trying make a totally new program with all new
whistles and bells, that are full of bugs.

New problem, sold all my KFT today, downloaded the transactions into
Quicken 2006, tried to accept them, got the following message [ACCEPTING
A SHORT TRANSACTION]. Quicken thinks I do not hold any shares of KFT!
and I want short some!!! WHY??

Hope someone can help.
tks Guys.
GB



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