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Disable Cost Basis Method prompt

MnMac2000

Hello all,

Is there a way to disable being prompted for the cost basis method? I checked the securities and they are set to average cost basis, but every time I have to process a sale, it prompts for the cost basis method. It takes about 10 seconds for each transaction to return and there are 10 or more each time the institution sells for admin feeds. It is a small number of securities that are prompting all in the same account. I have never selected any lots to sell and it has always been average cost basis. I tried to set it to identify lots and then swtich back to average cost basis but it is still prompting.

Any help would be appreciated. Thanks in advance.

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Accepted answers

Jim_Harman

This is a longstanding request that is apparently in the works for implementation.. See this Idea post.
https://community.quicken.com/discussion/7296012/default-lot-identification-22-legacy-votes

All comments

Jim_Harman

This is a longstanding request that is apparently in the works for implementation.. See this Idea post.
https://community.quicken.com/discussion/7296012/default-lot-identification-22-legacy-votes

MnMac2000

Thanks Jim. I appreciate the quick response. I just found another post similar that was having a problem with 529 accounts. The only issue I am having is with my 529 accounts as well. Not of the other investment accounts are causing this issue.

Jim_Harman

Remember that the prompt is only for partial sales i.e. less than your whole holding But it would certainly be nice if it did not prompt for sales of money market funds where the price is always 1.00 or if you have selected Average cost.

At any rate it appears that soon you will be able to specify a default method and not be prompted each time.At the end of the discussion I linked there is a request for Beta testers.

Larry4

Granted it is just an annoying, time consuming usability defect, but here we are another 6 months later and still not done. Any ideas what the new schedule for "soon" is?

Jim_Harman

@Larry, have you tried the setting Edit > Preferences > Downloaded Transactions > Lot assignment after investment download?

This was added a few releases ago. The options are incomplete and confusingly named, but it lets you choose for each account whether you want the prompt, FIFO, or LIFO.

Check the box to enable automatic lot assignment, then use the radio buttons to select FIFO or LIFO. For some reason the other two options in the manual selection box, Minimum Gain and Maximum Gain, are not implemented yet.