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why am I not getting the correct cost basis on stocks that I purchase

Not all my stock purchases cost basis are entered in Quicken accurately. This is a real problem when checking gains and losses. 

Answers

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    I suggest you enter the cost basis accurately.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Cost Basis is established for each lot at purchase time and reduced when you sell any part of the security.
    Unless you instruct your Broker otherwise, they are almost certainly using FIFO to determine which lots to sell from.
    SO, are you instructing your broker otherwise?  OR, are you recording your sale transactions as FIFO?
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • koppdp
    koppdp Windows Beta Beta
    This is not a problem with sales only purchases. I have reviewed it with quicken support and they could not figure it out either.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited December 2020
    Have your gone thru the lots for this security, all the way back to initial purchase, and compared your Q records to your brokerage stmt?  At least by doing that you can isolate when the issue began.
    AND are you saying that you've never sold ANY of this security?  Have there been any splits or stock dividends?

    Also, is this happening in a taxable account, or a tax advantaged account (such as a 401k, IRA, Roth, etc.)?  Fidelity, at least, improperly records the cost basis in tax advantaged accounts by recording the basis of a reinvested dividend as $0.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
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