Return of Capital

Tricks's Avatar


01 Apr, 2016 10:21 PM

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?

  1. 1 Posted by Ben Spencer on 02 Apr, 2016 03:32 PM

    Ben Spencer's Avatar

    I said this in your duplicate post but I'll add it here for completeness.

    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

  2. System closed this discussion on 02 Jul, 2016 03:40 PM.

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