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Posted by John Gregory on April 14, 2006, 9:27 am
Please log in for more thread options I moved on tot he next statement, entered the dividend and number of shares
bought for reinvestment using the wizard but this time included that
commission the company paid ($0.12). I ended up with two entries. The first
properly reinvested the dividend with a ReinvDiv action and the second
showed up as an MiscIncX action entry. There's a -$0.12 in red in the
Description space but my cash in the account is in balance. When I view that
entry under Edit, I see the amount of the commission in the "Miscellaneous"
space and the category identified as "_DivInc". Checking back on the
reinvestment entry I made, I find the commission I record has been removed.
The net effect seems to be that the reinvestment was made properly, no
commission was recorded with that entry (even though I entered it), and a
new MiscIncX entry was made automatically forcing that commission to be
reported as income. That makes my tax records agree now with the 1099DIV
(Dividend Income shows the amount reinvest PLUS that small commission as a
separate entry on the same day). But I'm a little concerned about that
read -$0.12.
Have I entered this correctly?
> On second thought... I can't just add those commissions to the dividend
> figure; they won't agree with the statements. Perhaps I should make a
> separate entry for "Inc - (Income, Dividends, etc)" in the amount of the
> commission, then list the commission in the appropriate box of the wizard.
> That would zero the two out but would also create a record of having
> received the commission as "income" so it agrees with the 1099-Div.
>
> Would that do the trick?
>
>> You bought shares with no commission. Just enter what you paid. You
>> could ask a similar question about posting the benefit of buying a shirt
>> at 50% off.
>>
>> Tom
>>
>> John Gregory wrote:
>>> I have a few shares of GM whose dividends are simply being reinvested. I
>>> noticed the statements are showing that the company pays the commission.
>>> How do I properly post that benefit.unearned income. gift. whatever it
>>> is. I can't inflate the dividend on the wizard I use to post the
>>> transaction... or can I? Just inflate the divided by the amount of the
>>> commission then post the commission? But that leaves the cost per share
>>> slightly distorted. The true cost was only the amount of the real
>>> dividend.
>>>
>
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