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Entering Cost Basis on Transferred Security

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This discussion was created from comments split from: New brokerage account won't download correct cost basis or lot identification.

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TA2

How can the cost basis be entered on a security under a new account where the transactions were downloaded transferring the securities from one brokerage account to a new brokerage and no cost basis was transferred?

Sherlock

If you are are transferring shares between accounts, I suggest you use the Shares Transferred Between Accounts wizard to enter the appropriate Removed and Added transactions. Otherwise, I suggest you enter an Added action transaction (or select Enter Transactions and press Alt + Z).

Jeffrey Kirk

I withdrew the shares of a security from one account and deposited them in a new account. When I try to make a sale of all or some of the shares in the new account, the original, individual lots do not appear in the new, just the total basis I entered when I added them to the the old account. How do I make a sale out of the seccond account by the individual lots I had purchased them in the first account?

q_lurker

Jeffrey Kirk said:

I withdrew the shares of a security from one account and deposited them in a new account. When I try to make a sale of all or some of the shares in the new account, the original, individual lots do not appear in the new, just the total basis I entered when I added them to the the old account. How do I make a sale out of the second account by the individual lots I had purchased them in the first account?

To make the sale out of the individual lots, you need to have Add Shares transactions for each individual lot (or Buy Shares of each lot). Those are generated either through the Shares Transfer function cited above, or by your manual entries. I am not aware of any brokerage that downloads the individual lot information with their initialization process.

It is likely possible to backfit in the Shares Transferred action after deleting the applicable Remove Shares from the original account and the Add Shares in the new account. Backup your data file first!