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Capital gains report shows incorrect cost and sale amounts. I enter purchase and sales manually.

Have tried everything. Purchase and sales amounts are correct in investment register.

Comments

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Need more detail. Are the numbers in the report consistent with your purchases and sales but disagree with your broker, or are they inconsistent within Quicken?
    QWin Premier subscription
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Here are some troubleshooting tips, assuming you are looking at capital gains for 2019:

    -- Back up your data just in case

    -- Click on Holdings at the top of the account's transaction list (register). Set the As Of date to 1/1 2019. Are the share counts for each holding correct? If not, investigate.

    -- go to File > File Operations > Validate and Repair, Select Validate File and OK. Problems found? Investigate and/or post back for more help.

    -- repeat but select Rebuid Investing lots. Does that fix it? Good. You are done.

    -- Click on the + sign next to a security where you think there are problems. Are the tax lots Quicken thinks you held at the beginning of the year correct? If not, investigate
    .
    -- Now set the As of date to just before and after a sale. Are the tax lots what you expect? If not, investigate that sale.

    -- Using the Investing > Capital Gains report, click on the gear at the top right and customize to select just one account where you think there are problems. Group the report by Security. Does the data for each sale look correct? If not, investigate.

    QWin Premier subscription
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    If you have differences between the cost basis reported in Quicken vs. the cost basis reported by the broker, that certainly could be a result of either different cost methods being used, (e.g., you are using average cost while the broker is using LIFO), or it could be that prior wash loss sales have created a "disconnect" between the basis for the security held in Quicken vs. the basis for the security per the broker.  But even if this is the case I'd still expect that net proceeds - stated selling price minus selling fees - should be the same.
    It's more difficult to come up with an answer for you if the difference is entirely within Quicken itself.  So if you enter a sale into the transaction list (register), correctly entering the stated sales price, (X number of shares x per share selling price), and the commission but the capital gains report comes up with a different number, that's pretty hard to explain.
    Clarification of what you're seeing is needed.  A screen shot illustrating the difference would also be extremely helpful.
  • u1938
    u1938 Member
    Thanks Jim. I would do all the troubleshooting you recommended.

    Now Details: I have been using Quicken for Windows for over 20 years. Since My investments are global, I enter them manually, based on broker's contract. Currently, I am on Quicken 2019 latest build. I also use Quicken for Mac on my iMac.

    Exactly same investments. Different capital gains report on Q for Mac and Q for Windows!! Both purchase and sales cost data are wrong. Date of purchase and sale and the number of shares bought/sold are correct.

    Surprisingly, if I put the same data on my Quicken for Windows 2015 build, cap gains figures match those provided by the broker!! 100% accurate.

    U1938
  • u1938
    u1938 Member
    Q for Mac cap gains report as regards data almoost atches cap gains report provided by broker.

    U1938
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Are your purchases and sales in a currency other than US dollars? In that case you may see discrepancies when the exchange rate changes. (I am not an expert on this)
    QWin Premier subscription
  • u1938
    u1938 Member
    Yes. That was the problem. Unlike Q for Mac, Q for Window does not permit individual accounts in different currencies. in Q for Windows all accounts have to be inHome currency.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Actually QWin does support accounts in different currencies but it is an account level setting that is defined when you set up the account. Prior to doing this, you must go to Edit > Preferences > Calendar and currencies and check the Multicurrency support box. I think when you make theis selection all existing accounts are set to your home currency.

    I am not an expert on this, but you can go to Quicken Help and search for Currency for more info.
    QWin Premier subscription
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    Actually QWin does support accounts in different currencies but it is an account level setting that is defined when you set up the account. Prior to doing this, you must go to Edit > Preferences > Calendar and currencies and check the Multicurrency support box. I think when you make theis selection all existing accounts are set to your home currency.

    I am not an expert on this, but you can go to Quicken Help and search for Currency for more info.
    I'll also beg off as lacking expertise, but I believe in QWin both the account and the securities held within the account must share a common currency.  You cannot have a Canadian-currency account that holds a security priced in US dollars.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Re-stating @q_lurker's comment, ALL of the securities in any given account MUST be denominated in the same currency and in the currency of the account.
    If you think about it, it makes little sense to hold a CAD security in a USD account, or vice-versa.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • u1938
    u1938 Member
    Q for win requires each account designated in a single currency. Thus, I have to have a Euro account, one US $, one Yen account etc. Then multicurrency works fine.
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