|
Posted by John Pollard on February 19, 2007, 9:04 am
Please log in for more thread options
skassamali@gmail.com wrote:
> I received a dividend of 100.87, and it was used to
> purchase 2.434 shares of stock. When I look at my final
> tax paperwork from my investment firm, it counts $84.63
> as my cost basis for short term, and the rest in long
> term. Quicken on the other hand, counts it all as short
> term. Am I recording this in Quicken 2005 incorrectly?
It sure seems that way.
It sounds like you got some capital gains distributions and
reinvested them. Since some of the gains were short term and
some long term, it takes at least two transactions to enter them
correctly. Quicken has a transaction (an Action value) for
short term cap gains reinvested and one for long term cap gains
reinvested. Alternatively, I suppose you could take a short
term and a long term distribution as cash (Quicken has
transactions for that too), then add a third transaction to
purchase more shares with the total of the cash received from
the distributions.
--
John Pollard
First initial underscore Last name at mchsi dot com
Please reply to newsgroup
| 
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap