How to adjust cost basis

bwalker56

I have a long-term held stock that I want to change the cost basis for so it will match the brokerage statement. Is there a way to adjust the basis assigned to the security in Quicken? The cost is allocated in two Lots, each with it's own separate stock price. Since both lots are long term I'm thinking (yes, dangerous) it won't mater if they do not remain separated into two lots. Any suggestions will be greatly appreciated. Thank you

Jim_Harman

If there are only 2 lots and not many transactions, you could go back through the transactions in Quicken and correct them so that Quicken's numbers match your brokerage's. Perhaps there are Placeholders in your account that are causing the discrepancy.

If you don't care about fixing the detailed history, you could Remove all the shares and Add back the two lots using the broker's acquistion dates and cost basis.

Jim_Harman

If there are only 2 lots and not many transactions, you could go back through the transactions in Quicken and correct them so that Quicken's numbers match your brokerage's. Perhaps there are Placeholders in your account that are causing the discrepancy.

If you don't care about fixing the detailed history, you could Remove all the shares and Add back the two lots using the broker's acquistion dates and cost basis.

NotACPA

Cost basis, as recorded in Q, and that number at your brokerage probably got out of whack when you sold a part of the security ... and your broker recorded the sale from 1 lot (most likely, FIFO) and you recorded the sale from the other lot.

SO, I'd first go back and look at any sale transactions and adjust what Lots, in Q, you recorded them as coming from.