Quicken Community is moving to Single Sign On! Starting 1/22/21, you'll sign in to the community with your Quicken ID. For more information: http://bit.ly/CommunitySSO

Quicken calculation of shares based on today's closing price

Unknown
Unknown Member
edited December 2018 in Investing (Windows)
I believe Quicken used to allow a person to enter a mutual fund transaction date, funding source, security, and amount. It would then calculate the shares based on that dates closing costs (or the most recent on file).  Quicken Premier Windows 2016 14.1 forces you to enter apparently all 3--shares, price, and amount. I thought at most 2 of 3 were required and under some scenarios it would use the dates closing price. Am I dreaming?

Comments

  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited May 2018
    The recommend approach is to enter the correct total number of shares and the correct total price. Include commission at you discretion. Let Quicken calculate the price.share. I don't believe Quicken has ever required those three values, though it can seem that way some times.
  • Unknown
    Unknown Member
    edited December 2018
    Thank you, this helps.
  • Unknown
    Unknown Member
    edited June 2018
    The IRS rules are: Take the average of the highest and lowest prices of the day.  That is for your income taxes.  And your broker will send the correct value to you.  For mutual funds, your broker will calculate an average cost for and will submit that and the IRS  will accept that.

    For your records:

    For stocks, you can select the shares to sell, then your broker reports the amount of money you got., including price, commission and taxes.  Go with what your broker says, minus the twiddly little costs.  It's easier.  And yes, you tell Quicken number of Shares and total price and it will calculate per share cost.  You don't need that unless and until you decide to sell just part of the investment.  But you don't need it until then.

    For Mutual funds, You usually tell the broker or Mutual Fund Company how many dollars you want to sell.  Your broker  computes the number of shares and the cost/per share.  Let the broker do it!  Dealing with selling the exact particular shares is tricky.  And, since you don't know the actual price until the next day it's best to say just the dollar amount you want.

    You may have to wait a day or two to get the final answer. But that is the best way!
This discussion has been closed.