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Capital Gains Report has Sold Dates before Bought Dates Causing Long Term Capital Gains Negative Num

Unknown
Unknown Member
edited September 2018 in Investing (Windows)
In producing a Capital Gains Report in Quicken 2017 for a Brokerage account, I have a page of Long Term Capital Gains listed that are all negative. This is caused by the Sold dates for these transactions showing a date that is before the Bought date and this is causing Long Term Capital Gains to show many Negative Numbers that are obviously in error.

Comments

  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited December 2017
    So if you have a sold date before a purchase date that would typically indicate a short sale and cover transaction.  This does not imply that it is always a capital loss.  Negative capital gains isn't determined based on the date sold/bought but if you sold it for less than you bought it for it will be a loss regardless of date.  I realize this doesn't fix the problem you stated but maybe provides you some information to go back and look at your transactions.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    edited September 2018
    What is the name of the brokerage you're working with?
    How did you enter these Buy / Sell transactions? By hand? Or by downloading from the brokerage?

    Is it possible that you have

    Placeholder transactions lurking in your account register messing up results?

    Placeholders

    "N/A" in
    an investment transaction indicates that you have Placeholder transactions in
    your account that need to be resolved.

    For more about
    Placeholders please go into Quicken Help (press the F1 key from anywhere in
    Quicken) and perform a Contents search for "placeholder".

    Alternatively or in
    addition to the above, read the first few articles found here: https://www.quicken.com/search/site/placeholder

  • Unknown
    Unknown Member
    edited November 2016

    So if you have a sold date before a purchase date that would typically indicate a short sale and cover transaction.  This does not imply that it is always a capital loss.  Negative capital gains isn't determined based on the date sold/bought but if you sold it for less than you bought it for it will be a loss regardless of date.  I realize this doesn't fix the problem you stated but maybe provides you some information to go back and look at your transactions.

    Thanks for the reply. I have some shares sold with a moderate loss and those look correct. The transactions in question show a $0.00 value for the purchase date and the stock price of the sell date which is earlier than the purchase date. There is a 't' symbol at the end also. I did a deep dive into this over the weekend and decided to re-import the transactions using a CSV to QIF import tool in a new Quicken database. I should know next week if the issue is resolved.
  • Unknown
    Unknown Member
    edited November 2016
    UKR said:

    What is the name of the brokerage you're working with?
    How did you enter these Buy / Sell transactions? By hand? Or by downloading from the brokerage?

    Is it possible that you have

    Placeholder transactions lurking in your account register messing up results?

    Placeholders

    "N/A" in
    an investment transaction indicates that you have Placeholder transactions in
    your account that need to be resolved.

    For more about
    Placeholders please go into Quicken Help (press the F1 key from anywhere in
    Quicken) and perform a Contents search for "placeholder".

    Alternatively or in
    addition to the above, read the first few articles found here: https://www.quicken.com/search/site/placeholder

    I am working with a Bitcoin exchange and attempting to track capital gains for IRS reporting. I did enter these by hand but recently found a tool that converts CSV to QIF so I can import the transactions back into a new Quicken investment account and then do it going forward instead of by hand. I have no brokerage statements to fall back to, just whatever Quicken capital gains says. And, it doesn't help that I need 8 decimal places with Quicken only allowing 6 and the fact that it truncates the value to 4 characters on QIF import.

    Some transactions require a transfer of shares to another account. The import won't do that, only a Removed and Add shares by hand making it difficult to manage forcing me to report a sale just to move shares which is really annoying. In any case, because of the rounding errors, I did have placeholders I had to add by hand at one time as I was having difficulty selling shares where Quicken says I did not have enough shares in the lots when I clearly did have them shown in the total share balance. I think its all corrupt now so a total re-import is necessary unfortunately.
  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited November 2016

    So if you have a sold date before a purchase date that would typically indicate a short sale and cover transaction.  This does not imply that it is always a capital loss.  Negative capital gains isn't determined based on the date sold/bought but if you sold it for less than you bought it for it will be a loss regardless of date.  I realize this doesn't fix the problem you stated but maybe provides you some information to go back and look at your transactions.

    I'm not sure what a 't' symbol at the end means.  If I sell options (puts/calls) the sale date will be before the purchase date and the value of the purchase will be $0 if the option expired worthless or was assigned.  That sounds like what you are seeing.  Also, I see in your comment below you are talking about Add and Remove shares.  Personally I find these tricky because as opposed to a Buy/Sell (or ShortSell/CvrShort) in that the Add transaction can't be used to offset a ShortSell transaction because it does not allow for lot allocation and you have to manually put in your cost basis.
This discussion has been closed.