Correcting cost basis

Lenard M. Hughes

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?

mshiggins

What method does your brokerage firm use?

Sherlock

We may reset the cost basis of a security holding using a Removed and Added action transaction.

NotACPA

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_lurker

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.