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Cost Basis (Adjusted Cost Basis) ACB (9 Legacy Votes)

JFOR
JFOR Member ✭✭
edited February 2020 in Investments (Mac)
Quicken Deluxe for Mac needs to have the option added to calculate stocks and mutual fund cost basis using adjusted cost basis(ACB) method. All of Canada uses the ACB method.  When a portion of a fund or stock is sold then the cost basis is out since it calculates on either LILO or FIFO.  Please include ACB as an option.  Also as others have stated , in the portfolio view we need to have the cost basis per unit added.
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20 votes

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  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited September 2018
    Thanks for the suggestion.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • ijryder
    ijryder Member ✭✭
    edited September 2018
    As a long time Canadian user, I find it odd that Quicken still does not accommodate the Canadian tax method for adjusted cost base(ACB), ie cost of sales are based on average cost in Canada not FIFO as in the US. When will this feature be released? It would save a lot of manual recalculating of ACB.
  • thecreator
    thecreator SuperUser ✭✭✭✭✭
    edited December 2018
    Hi @ JFOR ,

    Your last post, was Archived for "
    Violation of Community Guidelines: Ranting. If you have a question, you are welcome to repost. Thank you."


    My advice: See this Article: https://getsatisfaction.com/quickencommunity/topics/add-your-quicken-information-to-your-posts-plus-...


    Repost your other problem with additional information disclosed, not simply Quicken for Mac Canadian Version. Include the Build information.

    thecreator - User of Quicken Subscription R32.12  USA & Quicken 2017 HBRP R20.6 USA
                       Windows 10 Pro 32 & 64-Bit Build 21364.1000
    also            Windows 10 Pro 64-Bit Build 19042.928

    Note: Holding Down the Left Shift Key or Left Ctrl Key produces Window with Quicken 2019 in the Title Bar when click About Quicken,

    View: https://community.quicken.com/discussion/7859218/work-with-copies-of-your-actual-quicken-data-files/p1?new=1

  • ijryder
    ijryder Member ✭✭
    edited September 2018
    Is there any plan to add the Canadian method of calculating adjusted cost base based on average cost? This was available with previous versions of Quicken.
  • smayer97
    smayer97 SuperUser, Mac Beta, Canada Beta ✭✭✭✭✭
    edited February 2020

    Is there any plan to add the Canadian method of calculating adjusted cost base based on average cost? This was available with previous versions of Quicken.

    Not likely that you will get an answer to this as Quicken rarely pre-announces what features whey are working on. Meanwhile, simply click to add your VOTE to the top of this page to help influence the priorities by the developers. Your VOTES Matter!

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
  • ijryder
    ijryder Member ✭✭
    edited February 2020

    Is there any plan to add the Canadian method of calculating adjusted cost base based on average cost? This was available with previous versions of Quicken.

    Long overdue.
  • smayer97
    smayer97 SuperUser, Mac Beta, Canada Beta ✭✭✭✭✭
    edited February 2020

    Is there any plan to add the Canadian method of calculating adjusted cost base based on average cost? This was available with previous versions of Quicken.

    Ok but you still need to click VOTE at the top if you want your voice to be counted.  ;-)
  • Unknown
    Unknown Member
    edited November 2018
    At least now I know why my Cost Base is wrong. Didn't know US was different method from CA. Thanks Jfor for posting.
  • deanesfield
    deanesfield Mac Beta, Canada Beta Beta
    edited February 2020

    At least now I know why my Cost Base is wrong. Didn't know US was different method from CA. Thanks Jfor for posting.

    The latest Windows version of Quicken for Canada is still performing adjusted
    cost basis calculations in conformance with CRA's requirements. Quicken for MAC still has a ways to go for the residents of Canada.
  • John Prewitt
    John Prewitt Member ✭✭
    edited January 2019

    I have created a Quicken for Mac file which shows that Quicken does not handle average cost sells correctly.  The Security is set up as having Average Cost. It has 3 buys before a sell.  The 3 buys are:
    2448.529 shares for $35,000, 3797.678 shares for $54,000 and 1047.236 shares for $15,000.  The total is 7293.443 shares for $104,000 with an average cost per share of $14.26.
    Now the sell of 589.868 shares at $14.41/shares should reduce the total cost basis by $8,411.52. Subtracting $8,411.52 from $104,000 gives a net cost basis of $95,588.48. The total cost basis that Quicken shows on the portfolio page is $95,568.25.  If you subtract this value from $104,000 you get the cost basis that Quicken reduced the cost basis by, i.e., $8,431.75.  If you divide this value by the number of shares sold (589.868) you get the average per share cost basis that Quicken used, i.e., $14.29.  Quicken should be using $14.26.  See the following image.


    Super User q.lurker entered these numbers on Windows platform and got the correct values.  See the following image.  There is a problem with the Mac version.


  • John Prewitt
    John Prewitt Member ✭✭
    edited January 2019
    I am convinced that this is issue with Quicken's Mac software itself. The same transactions give the correct results on the Windows platform while it give different results on the Mac version.
    How do I get this issue to the Mac team at Quicken?
  • Stephen Fisher
    Stephen Fisher Member ✭✭✭
    I'm wondering whether it could have something to do with rounding of large fractions. Have you tried to do this with round numbers in QM?
  • JFOR
    JFOR Member ✭✭
    edited April 2019
    John the Mac ver has not been programmed by quicken to calculate investments using the Canadian method of ACB (average cost basis). It gives you the option to use LILO or FIFO so this is why as a Canadian user when u sell stocks or mutual funds as per your example it will always give incorrect data and screws up your portfolio/investment value because now the cost basis is incorrect.  I use ROC (return on capital) to reset the cost basis of the transaction  then make a cash transaction to zero out the ROC cash value.  I have posted this problem before on this site but so far quicken has not made any updates to add ACB as an additional option for investment accounts 
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    I'm surprised this thread has only received comments from Canadian users; many of us in the US handle our securities on an average cost basis. It's the default for many large financial institutions like Vanguard, where I have a large part of my investments. As a result, I can never use Quicken for calculating my cost basis or gains, and must rely on the values provided by Vanguard.
    Quicken Mac Subscription • Quicken user since 1993
  • Scott Rose
    Scott Rose Mac Beta Beta
    This is a very important & must-needed feature!
  • John Prewitt
    John Prewitt Member ✭✭
    To fix this issue the process that the Windows version uses to handle Average Cost Basis needs to be ported to the Mac version.
  • smayer97
    smayer97 SuperUser, Mac Beta, Canada Beta ✭✭✭✭✭
    edited March 2020
    You can add your VOTE to [removed self-referencing link]

    click the little grey triangle under the VOTE count at the top of page 1 in the blue banner, so your vote will count for THIS feature and increase its visibility to the developers by seeking to have the features you need or desire end up in the latest version (it may take a moment for your vote to register).
    (If the triangle is solid black, your vote has been registered.)

    Your VOTES matter!
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