Switching to Average Cost (Adjusted Cost Base?) - Canada Edition

I am working with the Canadian edition of quicken (current subscription) and I am trying to change my stock reporting from fifo to average cost (which I believe is the same as adjusted cost base) , but when I follow the instructions at https://www.quicken.com/support/switch-tracking-basis-security-lot-identification-average-cost but I never get the "Use Average Cost checkbox".
1) What am I doing wrong and what do I need to do to enable "Use Average Cost"?
2) Is there any difference between "Average Cost" and CRA's "Adjusted Cost Base" calculations?
1) What am I doing wrong and what do I need to do to enable "Use Average Cost"?
2) Is there any difference between "Average Cost" and CRA's "Adjusted Cost Base" calculations?
Tagged:
0
Answers
Premier on Windows 10
I have the same issue, but with Quicken for Mac. The only options shown for determining capital gains/losses are LIFO and FIFO, methods that are used in the US. I've haven't found any way to get Quicken for Mac to use the Average Cost method of calculation, as required by CRA.
In answer to your question, the CRA's "Adjusted Cost Base" stipulated for calculation of capital gains/losses uses an Average Cost calculation. The "Adjusted" aspect of ACB is that you can adjust the cost incurred for buying or selling equities (mutual funds, ETFs, etc) by any commissions or other fees paid as part of the buy/sell transactions.