Automate lot assignment preference

Just curious how well this new feature in R24.11 is working:
Improved: Added a preference to automate lot assignment when accepting a downloaded sell transaction in an investment account.

I'm jaded by the quality of Quicken updates, nervous about using new features. Thanks.

Comments

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    It is a step in the right direction but misses the mark for me. 

    It only offers two of the four lot selection options - FIFO and LIFO, not maximum and minimum gain. Also if the security is set to Use Average Cost, it still prompts to confirm average cost as the selection.
    QWin Premier subscription
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    I noticed with QW2017 that, if you are working with a security that is NOT set to use Average Cost and you take the Average Cost selection while accepting the transaction, then the security gets switched over t be an Average Cost security. 

    In practicality, that is the only way it could possibly work.  You could not be using Average Cost for some transactions and not for others.  So if the user wants to go that way, it has to be changed throughout for all such sales.  BUT, while initially the Average Cost selection is only available for mutual fund securities, that check is not applied with this type of offer. 

    Given @Jim_Harman 's comment, I expect that is still the case.  It seems there is still room to go with improvements in that territory.  Once I make a conversion to QW-Subscription, I'll see if I can detail a better outcome to shoot for. 
  • ProfileX
    ProfileX Member ✭✭
    Thanks for the info. My primary investment accounts use minimum gain, so I'll keep doing it manually for now. I'm holding off on the R24.11 upgrade, I've run out of patience for Quicken's obtuse developers and quality control, I run a script to prevent the annoying upgrade attempts, and I only upgrade every few months when a build appears to be stable or I get a new computer.
  • couchm01
    couchm01 Member ✭✭
    I agree with some of these comments. I am glad to see the added flexibility but it does not help me. I have 20+ investment accounts all of which allow me to specify how I want to handle lot assignments at the brokerage office level. On all I have set them up to minimize the gains. When I do "loss sales", I have to do them manually and specify minimize the gains......repeatedly which is a real waste of time and very error prone. At least you should be able to conclude the transaction on the lot entry screen with a "finish" without having to do and OK on the lot assignement and then another OK on the Sale screen.

    OF course, better yet would be to implement on the preference screen all of the lot assignment options. Doing this would be a great benefit to me.!!!!!
  • I cannot get LOT assignment after investment download to work at all even though I've activated it to assign sold transaction the first shares in in each of my investment accounts. What step have I missed?
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Is the security set to Use average cost?
    QWin Premier subscription
  • couchm01
    couchm01 Member ✭✭
    No, I do not use average cost on any account or security. Why do you ask?
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Because the automatic assignment does not work if you have that option selected
    QWin Premier subscription
  • couchm01
    couchm01 Member ✭✭
    In a recent release Q incorporated automatic lot assignments by each investment account on downloaded sale transactions. The issue I have is that the automatic lot assignment feature is either FIFO or LIFO....But, if you to select lot assignment on a sale transaction, there are four selectable options for the sale plus manual. The new feature automates by account either FIFO or LIFO but does not automate (but could) either minimize or maximize the gain. In most cases, I want to postpone my capital gain tax by minimizing the gain; this postpones the gain until later. Also when "harvesting losses" I want to maximize the loss by selecting "minimize the gain". I was hoping that the new feature would also automate the "minimize gain" option.
This discussion has been closed.