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Stock Split Recording Question

One of my stocks recently split. I did this manually using the Quicken stock split function, assigning the correct 2-for-1 ratio while waiting for my electronic account to 'catch up' with reality. But a day or so later when I used Vanguard to electronically update my account, it created a 'Add - Shared Added' transaction using a doubled amount of the shares I had in the account at the time. So both methods do end up with the same number of shares after the split, but I wonder if there's some underlying difference between the two - perhaps in the cost basis calculation during sell time? I just wonder why Q would supply this stock split function if one could simply 'add' the equivalent # of shares at a 2-for-1 split using SHARES ADDED and call it a day.

I'm too lazy to start playing with permutations to see if I can find any differences, so I am wondering if anyone can comment as to whether or not, in Q's handling, these two transactions are the same in all respects?

Reply to
Andrew
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"...doubled amount ..."

Whoops - before someone jumps on my case saying this would have ended up with a 3-for-1 split, I ack my error. Vanguard must have just used the SAME amount of shares in the transaction to end up with doubled amount.

Reply to
Andrew

The transactions are not the same. Vanguard's transaction will not properly account for the basis used in computing capitol gains. Just delete it.

JB

Reply to
John Beurket

Thanks John - I had the sneaky suspicion this was the case, since how would Q know what the underlying price would be for the shares simply added. I had, indeed, already deleted Vanguard's transaction (since I manually still had my 2-1 split that I had made earlier), and all seems well in the latest paper reconciliation review I received for the end of the 1/2 year last week. I imagine simply Vanguard doesn't have a way to trigger a Quicken

2-for-1 split transaction via their connection protocol (QFX?) and all they might be able to do is simply 'add' the correct number of new shares to essentially "simulate" the 2-for-1 split. But as you say, the cost basis isn't correct in doing so.
Reply to
Andrew

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