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Modtech Holdings, Inc. (MODTE) Message Board

  • tdyaa tdyaa Mar 17, 1999 10:24 PM Flag

    Please someone help me w/Quicken & what

    ...I owned 100shares of MODTD @ Ameritrade
    ..I
    owned 100 shares of MODTD @ Datek
    They both sent me
    "trade confirmation" notices that said:
    'YOU SOLD"
    100 shares MODTECH INC @ $3.7293 =$372.93

    I
    put the "SOLDS" in as sells in Quicken.....(. but my
    Portfolios with each brokerage firm show that I have 85
    shares of MODT)......but because I entered SELLS @ 100
    shares in each account that leaves me w/ZERO shares
    showing in Quicken.

    Sorry to be so dense but I
    know I was supposed to handle it in Quicken
    differently ......but how??????? HELP!!!

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Two simple
      entries:

      Action.......Stock....Shares.......Amount

      1) RtrnCap...Modtech...............$xxx.xx
      (money from $3.7/sh)

      2)
      StkSplit.................85
      .................................1

    • Not positive this is kosher, but here's how I
      treated it:

      Before the cash distribution you had
      100 sh MODT. Now you have 85 sh and $372.93 cash.
      Looks to me like you effectively sold 15 sh @ $24.862
      less any split charge your broker hit you
      with.

      Hope this amateur advice doesn't land anyone in IRS
      hell.

      • 1 Reply to Circa1941
      • I haven't had any tax corses since before the
        Internal Revenue Code was amended in the 70s but if I
        recall correctly, your basis in the stock you owned was
        $x. It is now $x minus the cash you received. If you
        received more cash than your basis you have a gain, if not
        you have a reduced basis. But, what do I know I never
        did like this stuff.

        BT

    • ....do a "sharesIn" for 85 shares..each account & everything will be fine...but .what price would I use for the shares? (the closing price on Wed Mar 17?) Is this the correct way????

      • 1 Reply to tdyaa
      • you are overly complicating things here. Try
        ...click on security for "detailed view of security" then
        click easy actions...then stock split then fill in new
        shares number and old shares number and price after
        split. then OK then you go back to the register and show
        a cash dividend of whatever it was.... Should work
        just fine then do a price update and all will be
        well... Now if you can just figure a way to get the price
        of the stock back up to the high teens so I can go
        in my register and click on "sell" I would very much
        appreciate it.