Error computing stock options

Unknown

Stock options are sold in lots of 100. For some reason the transaction didn't download from my broker (Scottrade), but the options show that I own them. So I had to manually enter the transactions. But I bought one option contract and it shows options for 100 shares. When entering the cost basis, it's correctly dividing the total cost, but on the portfolio page, it shows my cost basis multiplied by 100.

Concordman

To start let me say that QM does a very poor job dealing with investments and options trading in particular. When I download either a put or call option the first thing I do is check for the placeholder at the beginning of the register. The placeholder is normally A lightl gray entry. Edit the entry with the correct date share a balance etc. This should eliminate the placeholder . The transaction in the register will still be incorrect so you will have to edit the transaction again. If we are dealing with one contract put in 100 shares . The option info will not show up correctly in the portfolio View, but the trade should be accurate on the tax schedule on the short term schedule D . From my perspective this is the best that we can expect until the folks at Quicken decide to upgrade the investment module in the program.

Unknown

seem to be a lot of complaints for mac Quicken for Mac 2017 options handling...

Unknown

Concordman said:

To start let me say that QM does a very poor job dealing with investments and options trading in particular. When I download either a put or call option the first thing I do is check for the placeholder at the beginning of the register. The placeholder is normally A lightl gray entry. Edit the entry with the correct date share a balance etc. This should eliminate the placeholder . The transaction in the register will still be incorrect so you will have to edit the transaction again. If we are dealing with one contract put in 100 shares . The option info will not show up correctly in the portfolio View, but the trade should be accurate on the tax schedule on the short term schedule D . From my perspective this is the best that we can expect until the folks at Quicken decide to upgrade the investment module in the program.

The option trade will not be accurate if it is a covered call or results in a stock assignment. Quicken does not handle wash sales or report stock options per IRS requirements. So be careful of using it for schedule D tax return preparation. It is only accurate if there are no wash sales and no options activity.