Downloading Cost Basis from Merrill Lynch

When I update my accounts from Merrill Lynch, the cost basis doesn’t seem to download correctly. Anyone else run into this or know how to fix it? Thanks for any help.


  • John_in_NC
    John_in_NC SuperUser, Mac Beta Beta
    Hi, Ashes:

    Cost Basis is not a value that downloads from a brokerage house. It is calculated based on the cost of all your underlying transactions for that security in your account.

    If you don't have all of your transaction history, then your cost basis will be off for the missing data. 

    If you have a placeholder such as Add Transactions at the beginning of your investment account, then you do have the ability to add the cost there for the missing lots. But, you will have to do the legwork to figure out what the basis is you must enter to make the final amount jive with what ML reports. 

    All your currently downloading transactions will have the correct basis as Quicken can see the Buys, reinvests, etc.
  • Ashes
    Ashes Member ✭✭
    Thanks for the reply. All my monthly statements have the cost basis in them, but are in PDF form. They do have a Quicken data download option, but it doesn’t seem to include the cost basis info in the statements. I was hoping there was some way to get that info from Merrill Lynch through a request or something that other people have tried. Figured I’d take a shot and see if I got an answer like, “Yeah, you need to file a request with Department A and fill out form B...etc.”
    I was hoping to avoid having to do everything manually, but it looks like that’s what I’m going to have to do.
  • jacobs
    jacobs SuperUser, Mac Beta Beta
    @Ashes  As John says, basis is a calculated value, not something that is downloaded from a financial institution to Quicken. If you have paperwork from Merrill Lynch going back to when you started tracking your accounts in Quicken, and those statements show your cost basis at that time, it may be very easy to edit the Add Shares placeholder transactions at the beginning of your Quicken history to get your basis correct in Quicken at that time -- and it should track forward correctly thereafter. 
    Quicken Mac Subscription • Quicken user since 1993
  • Ashes
    Ashes Member ✭✭
    Yeah, I know, I have the docs with the info, but it’s for around 150 stocks with multiple dates on the cost basis. So, it’s a lot of manual work. If there was a way to auto add it from a document that would have been perfect. I’ll just have to bit the bullet and plan on spending some time to get it done.
  • John_in_NC
    John_in_NC SuperUser, Mac Beta Beta
    No, there isn't a way to auto add/download as Quicken doesn't import this value-it calculates based off your transx.

    I know 150 appears to be a daunting number of securities, but, I think you could knock that out in a night. You likely aren't dealing with individual lots, so I suspect you simply have to go into the opening balance Add Transactions for each security and enter the cost there. 

    You might wish to use the Basis as reported from the website versus paper statements as that will be more up to date. 

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