Baffled with Stock transfer

Ritzy

The account I transferred stock from shows the correct number of shares and the correct cost basis being transferred. However, the account receiving the stock shows the correct shares but the cost basis is incorrect. I have not sold any shares of the stock . I did an investment transactions report for both accounts and compared the numbers and they are identical but the totals don't agree. Would like a suggestion as how to get the correct cost basis.

Jim_Harman

Thanks for your clarification. What version of Quicken are you running? Go to Help > About Quicken and let us know what it says there.

Did you manually enter the Shares Transferred Between Accounts macro transaction to record the transfer, or did you rely on downloaded transactions?

When you transferred the shares, the cost basis for the shares you transferred should go down to zero in Account A and all the tax lots for the security along with their cost basis should now be in Account B.

I suggest you look at the Account Overview (Holdings) view for this security in both accounts A and B. For Account A, set the As of date to the day before the transfer and click the plus sign next to the security you transferred.

This should show all the tax lots for your security prior to the transfer. Note the lot dates and cost basis.

Now do the same for Account B with the As of date set to the transfer date. The lots and cost basis for each should be the same. If not explore the differences and post back.

Are there perhaps one or more Placeholder transactions for this security in Account A?

q_lurker

"I did an investment transactions report for both accounts and compared the numbers and they are identical but the totals don't agree. "

That is a confusing or surprising statement.  Please expound.  For example, how did you customize the report?  Did you subtotal by account?  Two separate reports for the two accounts?  All all these securities a single lot of each security?  How many securities are we talking about - a few, 10s, 100s? 

The totals don't agree where?  The cost basis is incorrect where? 

I would be looking at a portfolio view (Ctrl-U) that included shares and cost basis and the two accounts.  I would be adjusting the As of date between day before and day of transfer.  I might also make use of a Portfolio Value report and a portfolio Value and Cost Basis report.  I would have to think about how the Investment Transaction report might relate to cost basis.  (It probably does or should for Add Shares and remove Shares transactions.)

I think your next step is to try to narrow this down to specific securities.     
  

Ritzy

I will elaborate on my actions.
I wanted to transfer 300 shares of stock from account "A" to account "B". Before making the transaction to transfer I did do a Portfolio value report and cost basis report for "A".
I did the transfer from "A" to "B". After the transfer, I did a portfolio value report and cost basis in account "A" and "B". Account "A" showed zero stock which is correct. Account"B" showed the transfer of 300 shares. However, the cost basis shows an increase in account "B".
I then did a transaction investment report "from earliest to date" for account "A"
and account "B". I then compared the transaction reports and the reports both agreed since I had reinvested shares for a short time.
End of story.

Jim_Harman

Thanks for your clarification. What version of Quicken are you running? Go to Help > About Quicken and let us know what it says there.

Did you manually enter the Shares Transferred Between Accounts macro transaction to record the transfer, or did you rely on downloaded transactions?

When you transferred the shares, the cost basis for the shares you transferred should go down to zero in Account A and all the tax lots for the security along with their cost basis should now be in Account B.

I suggest you look at the Account Overview (Holdings) view for this security in both accounts A and B. For Account A, set the As of date to the day before the transfer and click the plus sign next to the security you transferred.

This should show all the tax lots for your security prior to the transfer. Note the lot dates and cost basis.

Now do the same for Account B with the As of date set to the transfer date. The lots and cost basis for each should be the same. If not explore the differences and post back.

Are there perhaps one or more Placeholder transactions for this security in Account A?