# cost basis calculated incorrectly

Robert Berman
Member

I am using Q2019 Windows R18.15 Build 27.1.18.15 and have a question about cost basis.

In a taxable investment brokerage account:

I purchased 595 shares @143.693899

Quicken correctly reports cost basis as $85,506.82 (viewed using Holdings)

After a sale of 130 shares @ 165.562615 (net sale proceeds of $21,513.72)

Quicken reports cost basis as $63,993.10

This is wrong. My broker has cost basis as $66,826.61 which is correct.

The brokerage calculates cost basis as $85,506.82 - (130 shares sold * $143.693899 original price)

Quicken seems to calculate it as $85,506.82 - $21,513.72 (sale proceeds using higher price!)

My CPA found this and told me the brokerage is correct, Quicken is wrong.

I called Quicken support and they just disconnected me.

Is there any way to get Quicken to calculate correct cost basis?

In a taxable investment brokerage account:

I purchased 595 shares @143.693899

Quicken correctly reports cost basis as $85,506.82 (viewed using Holdings)

After a sale of 130 shares @ 165.562615 (net sale proceeds of $21,513.72)

Quicken reports cost basis as $63,993.10

This is wrong. My broker has cost basis as $66,826.61 which is correct.

The brokerage calculates cost basis as $85,506.82 - (130 shares sold * $143.693899 original price)

Quicken seems to calculate it as $85,506.82 - $21,513.72 (sale proceeds using higher price!)

My CPA found this and told me the brokerage is correct, Quicken is wrong.

I called Quicken support and they just disconnected me.

Is there any way to get Quicken to calculate correct cost basis?

0

## Comments

Number of shares: 595

Price paid: $143.693899

Commission of $8.95 I left out, sorry.

Total cost: $85,506.82

So now the cost basis is $85,506.82 (this is what it cost me). This is what Quicken and the broker show at this point.

Then a sale:

Number of shares: 130

Price paid: $165.562615

Commission of $9.42 on this one

Total proceeds: $21,513.72

The cost BASIS for the entire position should be $66,826.61, not $63,993.10

I sold off 130 shares so the basis should be reduced by that many shares times the original price, not the latest price.

The broker has the correct basis, Quicken has the wrong one.

The market value is the total # of shares times the price, but that is not what cost basis is.

I've done the validation - all is fine with the file - no warnings/errors detected.

I just entered the transactions you provided and Quicken presents the cost basis as $66,826.66. The math appears to be $85,506.82 - (($85,506.82 / 595) x (595 - 130)).

Quicken user since 1997Premier on Windows 7