Fund sold skews balance sheet by amount of previous dividend reinvestment
TRunner
ttop123 at comcast.net
Tue Jul 11 02:07:26 EDT 2006
I purchased a mutual fund and then received an automatically re-
invested dividend. As suggested in the guide, I added this
reinvestment directly to the fund account in the form of shares
purchased, with the transfer account being Income:Dividend. No split
in this transaction, just shares / price / buy for the total amount,
from Income:Dividend.
e.g.
Buy Income:Dividend:Non-taxable Shares: 7.757 Price: 22.1606 Buy
171.90
Then when I sell the fund, I also follow then instructions in the
guide to balance the transaction correctly for the total number of
shares I have and in this case a capital loss. While this sell
transaction balances fine and it zeroes out the account balance and
shares, my balance sheet is now off by the exact amount of the
dividend reinvestment. How do I resolve this? Do I need to account
for the initial dividend reinvestment differently, and if so, how?
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