tag:infinitekind.tenderapp.com,2009-01-14:/discussions/investments/307-return-of-capitalInfinite Kind: Discussion 2018-03-17T03:39:40Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/377304692015-08-23T16:56:51Z2015-08-23T16:56:51ZReturn of capital<div><p>We are not currently working on implementing return of capital.
It is something we would like to add at some point but I cannot
offer a timeframe for when this might happen.</p>
<p>Ben Spencer<br>
Infinite Kind Support</p></div>Ben Spencertag:infinitekind.tenderapp.com,2009-01-14:Comment/377304692016-03-12T16:00:09Z2016-03-12T16:00:10ZReturn of capital<div><p>Ben<br>
Even Quicken had this feature more than ten years ago so it can't
be that difficult. Dividends received during the year are only
restated at tax time that all or a portion is Return of Capital
which of course reduces the Cost basis. Surely there must be a way
of amending the records. If only we could enter a negative amount
of dividends and the show a sale of 0 units of a similar
amount.</p>
<p>I've been suggesting this for years.</p>
<p>The Old Goat</p>
<p>Gordon</p></div>Old Goattag:infinitekind.tenderapp.com,2009-01-14:Comment/377304692016-04-01T22:26:01Z2016-04-01T22:26:02ZReturn of capital<div><p>I use QKN primarily to track my investments and I have been a
QKN user since QKN2 for Dos. I have not been happy with QKN since
2012 and have been looking to make a change from QKN to another
package. Moneydance was recommended as the best alternative, so I
downloaded a trial copy to play with. In entering common investment
transactions to see how you package worked, I did not see how to
handle Return of Capital transactions. You can't just add it as
investment income category because ROC has to lower your basis in
the corresponding stock. Since this is a very common investment
transaction for anyone with Dividend paying stocks, mutual funds
and especially MLP's, I thought I must be missing something. I then
went to your discussions and knowledge base to see what I was
missing.</p>
<p>I found several discussions and some instructions for a work
around.</p>
<p>I have to say that I am not impressed with the work around.
After entering the work around, the purchase date for the stock is
now incorrect and therefore Capital gains would now be incorrect.
In addition, Income is not properly recorded in the "investment
account in which it was earned. This work around would get
extremely complicated for Stocks with multiple lots that pay ROC
monthly or quarterly. I have to ask the question "if customers have
to use a spreadsheet to track their investments for Tax purposes,
why would they use your package?"</p>
<p>I see from comments from Infinitekind that ROC is not a priority
and that this has been the case for many years. Maybe Infinitekind
should hire some people that actually invest. If Infinitekind had
some investors on staff, I am confident that the priority would get
adjusted and Infinitekind would probably gain many new
customers.</p>
<p>Is there a later up date as to the time of adding ROC to your
package?</p></div>trickstag:infinitekind.tenderapp.com,2009-01-14:Comment/377304692016-04-02T15:31:15Z2016-04-02T15:31:15ZReturn of capital<div><p>There has been no change in the status of ROC in Moneydance. I
realize this is important to you and I am sorry this does not meet
your needs.</p>
<p>Ben Spencer<br>
Infinite Kind Support</p></div>Ben Spencertag:infinitekind.tenderapp.com,2009-01-14:Comment/377304692016-04-02T21:30:03Z2016-04-02T21:30:03ZReturn of capital<div><p>Ben,</p>
<p>The longer IK does not address the shortcoming in investment
transactions the more dissatisfied customers will become, that will
only lead to lost customers in the long run.</p>
<p>Many of the customers you have came from Quicken/Reckon, the
fact they moved from that software with all the potential issues
the migration causes means that they are very likely to move again
if the aggravation factor gets high enough and they identify a
product that works better.</p>
<p>IK touts Moneydance as a Quicken alternative, it cannot really
be considered a completely competitive alternative with investment
handling as it now stands.</p>
<p>I was hopeful of seeing further development in this area when I
first installed Moneydance in 2012, because I could see that a good
start had been made in the space, it had functions like stock
splits and lot matching, after 4 years however I have to wonder if
what is there is all there will ever be.</p>
<p>The workarounds that exist often "lose" data, this is just not
good enough for a financial package..</p>
<p>My 2 cents worth.</p>
<p>Des</p></div>dwg