Capital Gains Calculation Method Persistence

zkaps
zkaps Member ✭✭
edited January 11 in Investing (Windows)
When "Accepting" the very first downloaded "Sell" transaction for a mutual fund, Quicken correctly prompts me to select the capital gains (CG) calculation method as either Average Cost or Specific Lots. If Average Cost is selected, is there any way to make this selection be persistent in Quicken ? I checked the mutual fund's details in Tools | Security list and Average Cost is checked but Quicken continues to prompt me to select a CG calculation method when "Accepting" future transactions in the same account for the same mutual fund. If I have (25) "Sells" I have to select "Average Cost" 25X to "Accept" each transaction and this is annoying. Using Quicken Deluxe in Windows 10.

Thanks,
zkaps
Thanks,
zkaps

Best Answers

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    I suggest you check the Automatic Assignment instead of prompting on Accept preference for the account on the Lot Assignment Options window:  select Edit > Preferences...





  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    zkaps said:
    Thank you for the response but I need some additional clarification.

    There is no specific lot assignment when the CG method is Average Cost, therefore the two choices in Lot Assignment Options (Quicken Default and Last Shares In) are not applicable in this case. If I were to check "Automatic Assignment instead of prompting on Accept", will Quicken use Average Cost since that box is checked in the Security Details (Tools | Security List) and ignore the lot assignment options ?

    Thanks,
    zkaps
    While Use Average Cost is checked, it doesn't matter what the lot assignment is.  Note: The preference applies to the account not the security.
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    zkaps said:
    Thanks and OK on Average Cost but your comment that the preference applies to the account instead of the security puzzles me.
    As far as Quicken concerned, the selection of Average Cost appears in Security Details not the Account Details and this is as expected. If I have a brokerage account with multiple products, e.g., common stock, MFs and ETFs, the strong likelihood is that I would want Average Cost for my MFs and some other CG method for common stock holdings so I don't understand why you are saying the preference is at the account level ? Please comment on this point.

    Thanks,
    zaps
    By preference I was referring to Automatic Assignment instead of prompting on Accept preference discussed earlier.

Answers

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    I suggest you check the Automatic Assignment instead of prompting on Accept preference for the account on the Lot Assignment Options window:  select Edit > Preferences...





  • zkaps
    zkaps Member ✭✭
    Thank you for the response but I need some additional clarification.

    There is no specific lot assignment when the CG method is Average Cost, therefore the two choices in Lot Assignment Options (Quicken Default and Last Shares In) are not applicable in this case. If I were to check "Automatic Assignment instead of prompting on Accept", will Quicken use Average Cost since that box is checked in the Security Details (Tools | Security List) and ignore the lot assignment options ?

    Thanks,
    zkaps
    Thanks,
    zkaps
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    zkaps said:
    Thank you for the response but I need some additional clarification.

    There is no specific lot assignment when the CG method is Average Cost, therefore the two choices in Lot Assignment Options (Quicken Default and Last Shares In) are not applicable in this case. If I were to check "Automatic Assignment instead of prompting on Accept", will Quicken use Average Cost since that box is checked in the Security Details (Tools | Security List) and ignore the lot assignment options ?

    Thanks,
    zkaps
    While Use Average Cost is checked, it doesn't matter what the lot assignment is.  Note: The preference applies to the account not the security.
  • zkaps
    zkaps Member ✭✭
    Thanks and OK on Average Cost but your comment that the preference applies to the account instead of the security puzzles me.
    As far as Quicken concerned, the selection of Average Cost appears in Security Details not the Account Details and this is as expected. If I have a brokerage account with multiple products, e.g., common stock, MFs and ETFs, the strong likelihood is that I would want Average Cost for my MFs and some other CG method for common stock holdings so I don't understand why you are saying the preference is at the account level ? Please comment on this point.

    Thanks,
    zkaps
    Thanks,
    zkaps
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    zkaps said:
    Thanks and OK on Average Cost but your comment that the preference applies to the account instead of the security puzzles me.
    As far as Quicken concerned, the selection of Average Cost appears in Security Details not the Account Details and this is as expected. If I have a brokerage account with multiple products, e.g., common stock, MFs and ETFs, the strong likelihood is that I would want Average Cost for my MFs and some other CG method for common stock holdings so I don't understand why you are saying the preference is at the account level ? Please comment on this point.

    Thanks,
    zaps
    By preference I was referring to Automatic Assignment instead of prompting on Accept preference discussed earlier.
  • zkaps
    zkaps Member ✭✭
    Got it....thanks !

    zkaps
    Thanks,
    zkaps
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