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Trade Date

SystemSystem Member ✭✭✭✭
This discussion was created from comments split from: How does Quicken use the Trade Date and Settle Date for a stock transaction?.

Comments

  • GaryGary Member ✭✭
    I sold a stock on 12/28/18. Quicken downloaded the transaction date as 1/2/2019, thus showing my the gain as occurring in 2019.
    IRS states i need to use the Trade Date. My 2018 1099 statement used the trade date (as expected).

    To make Quicken show the gain/loss in the correct year I modified the Transaction date to be the same as the Trade Date.

    I think Quicken needs a better way to handle this situation. Perhaps there should be a Trade Date and a Settlement Date, and both should be downloaded from the Brokerage.

    Anyone else have any suggestions on how to deal with this situation?

    Further Info: https://www.irs.gov/publications/p550
  • q_lurkerq_lurker SuperUser ✭✭✭✭✭
    It is not a matter of what Quicken downloads; it is what the financial institution sends. My FIs send trade date transactions. So if I buy on the 4th and settle on the 6th, per Quicken my account cash balance is in the red for a couple of days. No big deal. 
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