Correcting cost basis

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Lenard M. Hughes
Lenard M. Hughes Member ✭✭
in Investing (Windows)
How can I change the cost basis of each of my investments using the method of my brokerage firm rather than what Quicken uses to determine cost basis?

Answers

  • mshiggins
    mshiggins Quicken Windows 2017 SuperUser ✭✭✭✭✭
    What method does your brokerage firm use?

    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the Quicken Windows FAQ list

  • Sherlock
    Sherlock Quicken Windows Subscription Member ✭✭✭✭
    We may reset the cost basis of a security holding using a Removed and Added action transaction.
  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    I strongly suspect that the cost basis differs because you're not using the same selection method on shares that you sell.  They might be using FIFO, and you might be using "Least Cap Gain".  This will result in Cost Basis differences every time.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭
    Lenard M. Hughes said:
    How can I change the cost basis of each of my investments using the method of my brokerage firm rather than what Quicken uses to determine cost basis?
    You can edit each of the historical sales to specify the same lot selection your brokerage used for that sale.  By default, Quicken would have used FIFO if you dod not specify something different.
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