Return of capital

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22 Aug, 2015 07:53 PM

How close are you to adding a return of capital function to the investment section in Moneydance? I can't use the program without this function as I have quit a few MLP investments.

  1. 1 Posted by Ben Spencer on 23 Aug, 2015 04:56 PM

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    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.

    Ben Spencer
    Infinite Kind Support

  2. 2 Posted by Old Goat on 12 Mar, 2016 04:00 PM

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    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.

    I've been suggesting this for years.

    The Old Goat


  3. 3 Posted by tricks on 01 Apr, 2016 10:26 PM

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    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.

    I found several discussions and some instructions for a work around.

    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?"

    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.

    Is there a later up date as to the time of adding ROC to your package?

  4. 4 Posted by Ben Spencer on 02 Apr, 2016 03:31 PM

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    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.

    Ben Spencer
    Infinite Kind Support

  5. 5 Posted by dwg on 02 Apr, 2016 09:30 PM

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    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.

    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.

    IK touts Moneydance as a Quicken alternative, it cannot really be considered a completely competitive alternative with investment handling as it now stands.

    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.

    The workarounds that exist often "lose" data, this is just not good enough for a financial package..

    My 2 cents worth.


  6. System closed this discussion on 02 Jul, 2016 09:30 PM.

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