Need to fix 5 years worth of messed up investment accounts

Sara110 Member
edited May 2018 in Investing (Windows)
Investment Accounts have been a crazy mess for 5 years. Would like to start "fresh" now with Quicken Deluxe 2017 (Windows10).  If it wouldn't impact my checking and savings, etc. accounts in Quicken, I would have deleted these investment accounts from Quicken and started fresh before.  With hundreds of placeholders, it would take me months to straighten them out.  Question: Is there a way I can simply start with a current share balance (etc.) of these investment accounts?  Thank you.  


  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited May 2018
    Is there a way...
    I'll say Yes.  I would likely be inclined to create a new account but you may be able to just "Remove" all shares from you current account and go forward from there.

    As a new account, I would initially create it with no securities.  After creating the account, I would then enter an Add Shares transactions dated 1/1/17 for each holding with that holdings applicable cost basis and acquisition dates.  The OCD-types (myself) would do that on a lot by lot basis, but you may be able to lump all long term holdings into one lot per security.  That choice depends a lot on how well you want Quicken to match to your real-world cost basis and tax situation.  For example, if you hold a total of 100 shares long term with a cost basis of $1,000 (average $10/share) and you broker ends up selling 50 shares that had a cost basis of $600 ($12/share), your Quicken data will not be able to replicate that situation if the 100 shares were in one lot.  If you are passing your Quicken data to a tax program, a correction will be necessary somewhere along the line.  

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