Adjust the number of shares in lots

I have several lots that make up the total number of stock in one of my accounts. The total number of shares in the account is correct but the number of shares in each lot is not. What's the right/best/correct way to adjust the number of shares an a given lot?

What I've tried: I know that I can enter a "Remove shares" transaction and specify the lot(s) the shares should could out of. However, I can't do the opposite, that is, enter an "Add shares" transaction to add to a specific lot.

So what's the correct way to get the share could correct for each lot?

Best Answer

Answers

  • Joey
    Joey Member ✭✭
    Okay, thanks for the quick reply.
  • Rocket J Squirrel
    Rocket J Squirrel SuperUser, Windows Beta ✭✭✭✭✭
    @K.O. (Win-Premier) , you have succeeded in confusing me. Delete "closing" transactions and re-enter? Maybe I'm misunderstanding, but the number of shares in a lot are set in "opening" transactions, i.e., Buy, ReinvDiv, Add Shares, etc. Those transactions can be edited after the fact to change the number of shares.
    Maybe the deeper question is why the lots have incorrect share counts in the first place. That shouldn't happen.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    @Rocket J Squirrel  YES, the initial number of shares in a lot is determined by the purchase ... but if the OP has sold shares of the holding, and the lots that were recorded in Q, for the sale, don't match the lots that were selected by the broker, a discrepancy in LOT holding can  arise ... which is what KO is addressing.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    @Rocket J Squirrel ... Yes, the lots are based on the opening transaction but it's when you close a transaction is when you identify which lots you wish to close that then determines profitability based on the close price vs. the opening price on the lot selected.  And the closing transaction determines if there are shares left in the opening lot available for the next transaction.

    When you open a transaction this sets the lot but it can't be wrong unless the transaction (price or qty) is wrong.  So as long as the price and qty are correct for the opening transaction the lot cannot be wrong.  What can be wrong is when you close a transaction you select a different lot than your broker selected and thus your gains/losses are incorrect when compared to the broker's statement which is God when it comes to taxes.
  • Rocket J Squirrel
    Rocket J Squirrel SuperUser, Windows Beta ✭✭✭✭✭
    @Joey said nothing about disposing of any shares. He just said lots had the wrong number of shares.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited June 2019
    @Joey said nothing about disposing of any shares. He just said lots had the wrong number of shares.
    If joey didn't dispose of shares, then the only other option was that the initial purchases were recorded incorrectly.
    I consider the "sold" option to be MUCH more likely.
    If not specifically designated  on the sale order, most brokerages will use FIFO ... but joey could well have selected Max, or Min gain ... which would result in joey's situation.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Rocket J Squirrel
    Rocket J Squirrel SuperUser, Windows Beta ✭✭✭✭✭
    edited June 2019
    I think we'll never know until @Joey comes back to give us more information about his issue.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription on Win10 Pro.
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    If the point of the exercise is simply to get the lots in order and not try to go back and fix all of the transactions that got you into the situation in the first place, then a simple Remove of all shares, followed by a sequence of Adds with the correct number of shares, correct basis and correct date acquired would probably be the easiest approach.
  • Joey
    Joey Member ✭✭
    Thanks everyone for the lively discussion. Your ideas and comments have been been very helpful. Regarding the discussion about *how* the lots got out of balance, it happened when shares were removed through sales. Turns out the brokerage reports lots on its website rounded to three decimal places even though they actually have four decimals and are traded with four decimals. I simply wasn't playing close enough attention as the sales transacted, and now I'm out of balance on a few lots at the fractional share level.
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