Shares transferred between accounts--(Part Two Problems)

Gary R

I transferred shares from T. Rowe Price and Vanguard to Fidelity this month. I just noticed that "AMOUNT INVESTED YEAR TO DATE" includes the cost basis of the shares transferred to the Fidelity account. In other words, even though shares were removed and transferred, the T. Rowe Price and Vanguard still have the cost basis in quicken.
Example---I transfer Vanguard Health Care to Fidelity with a cost basis of $10,000
Quicken now shows Amount Invested Year to date of $20,000

Gary R

Well--my brilliant idea above didn't work---It didn't remove the cost basis from the account. Amount invested Year to Date is Useless and misleading

Jim_Harman

Please see this discussion
https://community.quicken.com/discussion/7887230/amount-invested-account-vs-security

In Quicken, Amount Invested and Cost basis are not the same.

q_lurker

Where and how are you looking at this Amount Invested value?  Obviously a portfolio view.  How do you have it grouped?  What accounts are you including?  Are you showing closed lots? 

Don't invest too much energy into Amount Invested.  It can be a screwy parameter.  

Presumably in your new Fidelity account, you have Add Shares transactions dated this year that include cost basis for those shares totalling $10,000.  Therefore, Quicken is going to see that this year, you 'invested' $10,000.  That is becomes your Amount Invested YTD. 

Presumably in your older Vanguard or TRP account at the beginning of the year you held those shares.  They had a value at the beginning of the year.  That should be the the Amount Invested YTD for those shares. 

You may see a difference in values if you choose to have the portfolio "Show closed lots" (Options / Portfolio Preferences).   

Gary R

Well--Here's how Quicken handles the transfer---And it's really completely wrong!!!!!!
Example----Transfer 1000 shares of ABC fund in Vanguard to Fidelity
I enter the transaction as "transfer shares between accounts--1,000 and now Vanguard shows Remove shares--1,000 shares.
Fidelity now shows the 1,000 shares with the correct cost basis.
Great!!!!!!!!!!!!!!!!!!!!!!
Problem is that now the Investment Year to date includes both the same cost basis for both accounts ends up with double the cost basis.

There is no way to enter the cost basis when you remove the shares from your account. Only the share count is removed when you enter the transaction.

q_lurker

That is not a matter of how Quicken handles the transfer.  That is not completely wrong.

It is a matter of how Quicken handles Amount Invested. 

I know how Quicken handles the transfer.  I don't know how you are looking at Amount Invested. 

Yes, fundamentally Quicken ends up doubling up Amount Invested when you remove shares / add shares.  

You are continuing to interchange Amount Invested with Cost Basis perhaps because in your case they may happen to be the same value.  In the generic case, Amount Invested YTD will be the value of the security on 12/31/prior year plus any additions to that security during the year-to-date period.  Amount Invested YTD is NOT cost basis. In special cases, they may happen to be the same value.  

Gary R

" In the generic case, Amount Invested YTD will be the value of the security on 12/31/prior year plus any additions to that security during the year-to-date period. "

This is nuts!!
I am not adding any additional investments to all these securities--only transferring the same to another brokerage. Amount invested year to date should not change.

I think the only solution is to go back for each security and enter a sale instead of shares transferred. The cash balance will need to be adjusted when all sales are finished. I think this would at least remove the cost basis of the transferred security.

Gary R

Well--my brilliant idea above didn't work---It didn't remove the cost basis from the account. Amount invested Year to Date is Useless and misleading

Gary R

Q_Lurker
" Amount Invested YTD is NOT cost basis. In special cases, they may happen to be the same value. "

Q--I'm just looking at the Market value on January 1, 2021 with no additions to the securities. Therefore, Investment year to date should be the market value on January 1, 2021. But, as you stated, Quicken doubles the Investment Year to Date when you transfer shares. I just think this is wrong and should be fixed by the team at Quicken.