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Posted by bhata on May 12, 2008, 6:22 pm
Please log in for more thread options David Parker wrote:
> bhata wrote:
>> Anybody?
>>
>> bhata wrote:
>>> When I download my Fidelity investment transaction
>>> and if a transaction is Short-term or Long-term capital
>>> gain, it shows up only as a "Dividend" transaction.
>>> In the Memo field, it does indicate short/long term,
>>> so I manually edit these transactions.
>>>
>>> Does this also occur with other companies?
>>>
>>> Note that (if I remember correctly), when there is
>>> a single transaction for the day, the transaction
>>> action is correct. It only occurs when there are
>>> multiple dividend types (Div, Short, Long) and a
>>> single Buy transaction consolidating the multiple
>>> dividends. Does this make sense?
>>
>
> bhata:
>
> Sorry but I can't really understand your question. Long and short gains
> occur from sales of securities not from dividends. Mutual funds can
> "distribute" gains and mark them long or short. So which are you asking
> about, distributions or sales...or both?
>
> When I get distributions from funds held at Fidelity they always are
> identified as div only, short term gain or long term gain. Of course
> with reinvested distributions it's a whole different transaction. Is
> that what you're talking about in your third paragraph?
Sorry my explanation was confusing. Let me give an example of a recent
download. I had a download of Fidelity Freedom 2020, 4 transactions
for 5/9/2008 shown as:
#1 Action=Div, Memo="DIVIDEND RECEIVED", Dividend=$A
#2 Action=Div, Memo="SHORT-TERM CAP GAIN", Dividend=$B
#3 Action=Div, Memo="LONG-TERM CAP GAIN", Dividend=$C
#4 Action=Bought, "Memo="REINVESTMENT", Total cost=$(A+B+C)
What I have to do for #2 and #3 is edit the transaction and move
the $B/$C amount from the "Dividend" box to the "Short-term cap gain dist."
(or "Long Term") box.
I would prefer not have to do this because I have made mistakes
and I have to track it down at tax time. I was wondering if other
investment companies sent transactions the same way as Fidelity.
or if the transactions were sent the "correct" way.
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