Quicken Community is moving to Single Sign On! Starting 1/22/21, you'll sign in to the community with your Quicken ID. For more information: http://bit.ly/CommunitySSO

Return of Capital calculation Error - bug in the formula

I have entered a $1,200 return of capital transaction in my investment account, and as Quicken always does, it applies the reduction of basis to the oldest shares. However, the oldest shares have a basis of approximately $25,000 before the ROC is entered, and following the entry of the ROC transaction, my basis has changed to over $7,000,000,000,000.

In addition to the calculation error, there should be an option to select lots to which the ROC applies because the IRS publication 550 states that ROC should be applied to identifiable shares, or in the absence of being able to identify the shares, to the earliest lot.

On a side note, upon an update in August 2019, I had several calculations for various investing transactions be similarly affected - calculations for unrealized gains, account balances, etc. changed to become amounts in the trillions. I had to delete and reenter the original transactions to clear the issue - but some of the offending transactions could not be deleted, edited, or altered and a validate and repair failed so I had to revert to a backup copy and reenter some things to work it out.

Answers

  • Hello @[email protected],

    Thank you for providing the details of this issue to the Community, although I apologize that you have not yet received a response.

    The Community may need a bit more information to be able to further assist. Please take a moment to review the information available here and post back to let us know what version/release of Quicken you're using.

    The more information you can provide regarding this issue will help the Community to better understand and assist.

    Thank you,

    Quicken Natalie

     
Sign In or Register to comment.