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I transferred my 401K to another brokerage. Can you tell me how to get the cost basis transferred?

Unknown
Unknown Member
edited November 2018 in Investing (Windows)
Quicken 2018 401K Investments - Rollovers

Comments

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited November 2018
    Were your holdings transferred in kind, i.e. you have the same securities at the new brokerage, or were the old holdings sold, cash transferred, and new securities bought? 

    Note that in a 401K cost basis doesn't matter for tax purposes, only for performance tracking.
    QWin Premier subscription
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited October 2018
    If the old account was completely emptied ... the easiest way is:
    1) Deactivate the account from download
    2) Remove all vestiges of the old account (brokerage name and account number)
    3) Exit Q, restart Q
    4) Reactivate the account for download with the new brokerage name and account number.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Unknown
    Unknown Member
    edited December 2017

    Were your holdings transferred in kind, i.e. you have the same securities at the new brokerage, or were the old holdings sold, cash transferred, and new securities bought? 

    Note that in a 401K cost basis doesn't matter for tax purposes, only for performance tracking.

    I understand the cost basis is not necessary.  However, I do like to track performance.  Can I transfer everything I purchased/reimbursed dividends and dates?
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited December 2017

    Were your holdings transferred in kind, i.e. you have the same securities at the new brokerage, or were the old holdings sold, cash transferred, and new securities bought? 

    Note that in a 401K cost basis doesn't matter for tax purposes, only for performance tracking.

    The Shares Transferred Between Account macro-transaction (from the Enter Transactions button) will transfer all lots of all (or specified) securities from one account to another including the original acquisition dates and cost basis of each lot.  The function will not transfer short positions or cash.  It does not move the Dividend or similar transactions from the original account to the new account; those remain in the original account.  

    Long-term performance measures then need to include both accounts.  
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