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Is there a way to adust Cost Basis in an IRA account without affecting share or cash balance?

brooksrs@

I use Quicken 2020 in Windows 10 and found a way to adust Cost Basis in non-IRA account by using Return of Capital transactions. This didn't affect cash or share balances. My IRA account won't allow me to use the same account for the Transfer account. Not really sure how the cost basis got off track but it's off by about $3000.

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Sherlock

brooksrs@ said:

Based on this I went and found where I had "Added" about 13 transactions when I rolled over a 401k when I took another job. This rollover was actually shares of a mutual fund that was just move from one investment company to another. The shares of the 2 mutual funds rolled over were then sold by the new investment company which led to purchases of different mutual funds. So there were never any shares "Removed" by me in Quicken (I am a novice at this so I wasn't sure what I was doing but it seemed to work).

Do you suggest having these "Removed" at this point. My current balance in the account is fine (give or take a few cents from rounding errors). It's the cost basis that is the issue. It is really not a problem its just me wanting all things to be proper.

Thanks for your help...

Randy

Based on your description of what happened, the original shares should be Removed in the original 401k and Added in the new 401k. Then, the shares sold be Sold and new shares Bought in the new 401k.

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Sherlock

One way to adjust cost basis is to pair a Removed and Added transaction.

brooksrs@

Based on this I went and found where I had "Added" about 13 transactions when I rolled over a 401k when I took another job. This rollover was actually shares of a mutual fund that was just move from one investment company to another. The shares of the 2 mutual funds rolled over were then sold by the new investment company which led to purchases of different mutual funds. So there were never any shares "Removed" by me in Quicken (I am a novice at this so I wasn't sure what I was doing but it seemed to work).

Do you suggest having these "Removed" at this point. My current balance in the account is fine (give or take a few cents from rounding errors). It's the cost basis that is the issue. It is really not a problem its just me wanting all things to be proper.

Thanks for your help...

Randy

Sherlock

brooksrs@ said:

Based on this I went and found where I had "Added" about 13 transactions when I rolled over a 401k when I took another job. This rollover was actually shares of a mutual fund that was just move from one investment company to another. The shares of the 2 mutual funds rolled over were then sold by the new investment company which led to purchases of different mutual funds. So there were never any shares "Removed" by me in Quicken (I am a novice at this so I wasn't sure what I was doing but it seemed to work).

Do you suggest having these "Removed" at this point. My current balance in the account is fine (give or take a few cents from rounding errors). It's the cost basis that is the issue. It is really not a problem its just me wanting all things to be proper.

Thanks for your help...

Randy