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Cost basis for sale of stock / mutual fund

Julian Smith

I am now retired and over 71 1/2, and every month, mutual funds are sold from my IRA to meet the Required Minimum Distribution (RMD). For every sale, I am required to specify the cost basis, i.e. average or specific lots. This is unnecessary and annoying since after making the initial decision on a security or account, I can't change the cost basis as far as the IRS is concerned. I have contacted Quicken to request an enhancement so that Quicken does not require users to specify cost basis every time after the initial decision. If others feel the same way, I urge them to make the same request.

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Accepted answers

q_lurker

See this idea thread: https://community.quicken.com/discussion/7296012/default-lot-identification-21-legacy-votes/p1

Apparently since it is now planned, votes can no longer be added to the idea.

No word should be expected as to when the revision will come to fruition.

All comments

K.O. (Win-Premier)

Hang in there. I'm hopeful that Quicken has heard similar comments many times and will be working on an enhancement to at least have a default cost basis by account.

Jim_Harman

You can go here
https://community.quicken.com/discussion/7296012/default-lot-identification-21-legacy-votes/p1

to add your vote for this enhancement. Click the little up arrow under the number in the big blue box to vote.

As @K.O. (Win-Premier) says, it appears that this enhancement is in the works.

q_lurker