Trade Date

System

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

Gary

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_lurker

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.