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Lost cost basis in Account Registers even though the cost basis is in Security Detail

Unknown
Unknown Member
edited December 2018 in Investing (Windows)
My account registers holdings window have lost their cost basis for securities, even though the cost basis and date of the original purchase is still visible in each Security Detail window. How can I update the cost basis of these securities? My brokerage accounts at Merrill Lynch changed account numbers because they moved their site to new locations (this happened twice). I linked the downloads to the original account each time. However, these account registers no longer show the cost basis. Is there a way to update the cost basis? How come it's not possible to update the cost basis in the "edit security" window?? Is there another method, other than selling everything and buying new securities? New purchase securities (purchased after the acct number change)show the cost basis Ok in these accounts.
Using Quicken 2019 R14.23  Quicken Premier for Windows (Win10)

Comments

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited November 2018
    When the account numbers changed, did you set up new accounts in Quicken or keep the original accounts?

    What transactions were downloaded when the account numbers changed?

    If same accounts, there should be no transactions.

    If new accounts, you should use the Shares Moved between Accounts action to move the securities.

    If Sell and Buy transactions were downloaded, the original cost basis is lost in Quicken.

    QWin Premier subscription
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited November 2018
    It is a little hard to tell what really happened, but I'll offer my conjecture.

    As ML changed your account numbers (twice), that led you to create new Quicken accounts.  You then let ML download your holdings to populate the securities in the new account.  What you did with the old account is anybody's guess.  ML initially populated the account with securities via Add Shares transactions for each security.  

    Before addressing your question, for next time, it is likely not necessary to create the new account.  You probably would have been better served to disable the existing online connectivity, then re-establish it to the new account.  
    How can I update the cost basis of these securities? 
    If your new account is starting off with a bunch of Add Shares transactions, you can edit each of those transactions to include the cost basis and correct acquisition dates.  for multiple lot holdings, you may need to replace one Add Shares with multiple Add Shares (one for each lot).

    If the ML download led to placeholder transactions (Adjust Share Balance), I would delete those entries and either try to Shares Transferred Jim mentioned or create you own Add Shares transactions. 

    More specific information is needed to give any more specific answers. 
  • Unknown
    Unknown Member
    edited November 2018
    As I remember, I maintained the old account, deactivated the online access. I then downloaded the account information from ML and associated the new account with the old one in the dialog box that appeared. During the transfer shares were Removed, and Added. So, q.lurker and jim harman, you're saying I need to edit all the Shares Added transactions with the original cost basis to fix this problem? So,I need to do this and put the original acquisition date in when I do this. What do I do with the Shares Removed transactions?
        I guess what you are saying would work, but what is this going to do to the view in the Security Details listing of transactions? The shares, dividends, etc. back to the original acquisition date show up there. I'm suspecting I should also change the date of the Shares Removed transactions to the same date of the new Add Shares transaction. This way the data in the Security Detail will appear correct.
  • Unknown
    Unknown Member
    edited November 2018
    Or is the easiest thing to do, is to deactivate online access to my existing account, then re-establish a connection to a new account?  And then just hide the original account.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited November 2018
    Alex said:

    As I remember, I maintained the old account, deactivated the online access. I then downloaded the account information from ML and associated the new account with the old one in the dialog box that appeared. During the transfer shares were Removed, and Added. So, q.lurker and jim harman, you're saying I need to edit all the Shares Added transactions with the original cost basis to fix this problem? So,I need to do this and put the original acquisition date in when I do this. What do I do with the Shares Removed transactions?
        I guess what you are saying would work, but what is this going to do to the view in the Security Details listing of transactions? The shares, dividends, etc. back to the original acquisition date show up there. I'm suspecting I should also change the date of the Shares Removed transactions to the same date of the new Add Shares transaction. This way the data in the Security Detail will appear correct.

    As I remember, I maintained the old account, deactivated the online access. I then downloaded the account information from ML and associated the new account with the old one in the dialog box that appeared. 
    If that is what you did -- kept on using the original Quicken account under the new ML account number -- then there should not be any need for any Remove Shares and Add Shares.  (And that was what I was suggesting was the 'best' way.)  

    To test that direction, I would create a backup of the current file (for general safety's sake), and then delete all the Removes and Adds associated with this change.  You could actually just do that for one or two securities and see if the cost basis comes back to what it should be.  If the right direction, finish out and go forward.

    If the transactions are in two (or three) different Quicken accounts, then you are in the mode of editing the Add Shares for the basis value and the acquisition dates.  The date of the transactions (Add in one account and Remove in the other account) should match each other for the sake of continuity.

    The security detail views are not problematic.  Deleting or editing Add Shares transaction does nothing to dividend transactions in that account or other accounts.  The only catch in that regard would be later sales of that security.  If in one account you had an Add Shares dated 3/1, sold shares on 4/1, and then deleted the Add Shares transaction, the Sold Shares can get messed up since it no longer knows what shares were sold. 

    Re: your followup about "the easiest thing to do" -- I don't think so.  The root of the problem is that generally speaking, brokerages do not send along cost basis information when they report current holding to Quicken.  That is the shortcoming we are trying to get you past.      
  • Unknown
    Unknown Member
    edited December 2018
    I tried deleting the Remove Shares and Add Shares for each account number change (as you suggested) and bingo, I now have the cost basis back! Your suggestion worked.
This discussion has been closed.