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Posted by Barbara Lindholm on December 8, 2006, 3:08 pm
Please log in for more thread options Thank you so much R.C. White. This is the second time you have helped me
out of a confusing situation. I re-entered the stock splits and then I had
to adjust one of the splits to 3.0001:2 to make both the owned shares and
lot shares be equal. There were minute fractional shares in each so I just
removed them and after that, every transaction was right and I was able to
sell all the shares. So thanks again for your very knowledgeable
assistance!
> Hi, Barbara.
>
> This is a familiar problem. It's not really Quicken's fault, except that
> their programmers should have learned how to handle it by now. It's just
> a combination of the rounding problem that we learned about way back in
> elementary school, when we had to round 1/3 to .333..., compounded by the
> computer's use of binary numbers that have to be converted to our familiar
> decimal system so that we humans can understand it. (Of course you are
> not selling short, which means to sell shares you've borrowed to take
> advantage of today's price, promising to pay back your borrowing with
> shares you will buy - hopefully cheaper - in the future. But, since
> Quicken thinks you are selling more shares than you own, even just a tiny
> fraction, Quicken doesn't know any other way to handle this sale.)
>
> There are a couple of ways for you to handle this. The best (in my view)
> is to go back and make sure each entry you've made has resulted in a whole
> number of shares after each transaction. You might have to, in
> chronological order, delete each of your existing entries and re-enter it,
> being sure to enter the exact amount in dollars and cents and verifying
> that the number of shares held is a whole integer after each transaction.
>
> Another way is to tell Quicken to "Sell all shares in this account",
> rather than to sell 350 shares. You'll have to double-check that the
> "Total sale" dollars and cents are accurate, because the arithmetic
> (number of shares * price per share) might be off slightly, but the actual
> amount you received is more important that the calculation. And the "all
> shares" option should let Quicken clear whatever odd fractions it might
> have recorded.
>
> A third way is to Adjust the number of shares. Several regulars here have
> done that, but I haven't, so I'll let them tell you how to do it.
>
> RC
> --
> R. C. White, CPA
> San Marcos, TX
> (Retired. No longer licensed to practice public accounting.)
> rc@grandecom.net
> Microsoft Windows MVP
> (Currently running Vista Ultimate x64)
>
>>I am in the process of selling my Home Depot shares. I bought them
>>originally in 1992 and everything looked fine with all the splits until
>>the stock split on 12/30/99 which was a 3:2 split. After that entry, my
>>portfolio view said I had 450 shares but when I clicked on the + to see
>>the lot number, it said 449.999999. I had only bought the shares once (50
>>sh) and the rest of the share increase was all due to splits, so I only
>>had one "lot". Previously the shares owned and lot shares were always the
>>same with the splits. Then I sold 100 shares in 2003 and the shares owned
>>and lot shares again differed. Shares owned said 350 and the lot shares
>>said 349.99975. Now I have sold all my shares but Quicken won't let me
>>sell 350 nor will it let me sell the 349.99975 without getting the
>>message, "You should use 2 transactions, one to sell the shares you hold
>>and one to create your short position" I don't even know what that means
>>exactly because I've never dealt in short selling. I have tried adusting
>>the split in 12/1999 to make it like 3.00001:2 and that brought the shares
>>equal but when I went to sell them, I still get the same message. So I
>>ended up entering 349.998899 share to sell for the final sale, (although
>>it should have been 350) and now I am left with .001101 shares still owned
>>and the lot shares says .000815. I just want to get rid of all the shares
>>so Home Depot doesn't show up in my account since I really don't own it.
>>I even made a copy of my Quicken file and ran a validate on it and nothing
>>showed up. I checked and saw that all my transactions were entered right.
>>Does anyone have a fix to get rid of these shares. If I try to remove
>>them, I get a "you are creating a short sell" message or something like
>>that. I am using Q 2006.Thanks for any help with this frustration.
>>
>>
>> Barbara Lindholm
>
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