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How does Quicken for Mac Determine Lots Number when a transfer of shares occur

jess8887
jess8887 Member ✭✭
edited January 29 in Investing (Mac)
How does Quicken for Mac determine lots numbers when a transfer of shares occurs between brokerage accounts?

During the transfer process, Quicken added a memo to each transferred shared (e.g., Transfer shares from Brokerage - lot X of 28, etc.).

The transactions registry for the transferred shares appear in the new brokerage account based on the sequence number in the memo filed (e.g., lot 1 of 28, lot 2 of 28, lot 3 of 28, etc.). The problem with the lot assignments, it's not based on the date the shares were acquired. Unless I'm missing something, it would appear the lot numbers would be assigned by the date shares were acquired. I did not sold any shares before (or after) the transfers occurred.

One example, I had shares purchased in 2020 that appear in the registry before shares purchased in 2017, shares purchased in 2018 appear in the registry after shares purchased in 2020.

The best that I can tell, there is absolutely no rhyme or reason as to why the lot numbers were assigned.

If I attempt to rearrange the transferred shared based on the date acquired, then the Share Balances are out of wack. Note: trying to rearrange the shares based on date acquired is a difficult task in of its self because the date acquired info does not appear in the registry and apparently that column is not an available option to show. So, you must open each transaction to determine the acquisition date.

After rearranging the first two purchases based on date acquired, the third transaction (labeled as lot 1 of 28) shows a balance of 10 shares.

For example, my first shares were 100 shares purchased on 12/1/2017, but it was assigned lot 9 of 28. If I move the 100 shares (lot 9 of 28) to place in the correct order based on acquired date, the second transaction currently appearing as lot 1 of 28 (which was actually lot 23 where I purchased 10) shows the share balance 10 shares, not 110 shares.

Answers

  • jess8887
    jess8887 Member ✭✭
    I've attached an example. I created a new document with two accounts. Brokerage 1 and Brokerage 2. I then purchased:

    01.01.2021 - 1 share of XYZ for $1
    01.02.2021 - 2 shares of XYZ for $1
    01.03.2021 - 3 share of XYZ for $1
    01.04.2021 - 4 share of XYZ for $1
    01.05.2021 - 5 share of XYZ for $1

    Then on 01.06.2021, I transferred all shares from Brokerage 1 to Brokerage 2.

    As you can see from the first attachment, the 1st purchase was assigned lot 4 of 5, the 2nd purchase was assigned 2 of 5 (correct), the 3rd purchase was assigned lot 1 of 5, etc.

    In the second attachment, I rearrange the transactions by the date acquired (e.g., 01.01.2021 = 1 share, 01.02.2021 = 2 shares, etc.). You can see the share balance in all messed up.
  • jess8887
    jess8887 Member ✭✭
    edited January 29
    How does Quicken for Mac determine lot numbers when transferring investments shares between brokerage accounts?

    During the transfer process, Quicken added a memo to each transferred shared (e.g., Transfer shares from Brokerage 1 - lot 1 of 5, etc.).

    The transactions registry for the transferred shares appear in the new brokerage account based on the sequence number in the memo filed (e.g., lot 1 of 5, lot 2 of 5, etc.).

    Unless I'm missing something, it would appear the lot numbers would be based on the date shares were acquired. That's not the case.

    I created a new test document with 2 brokerage accounts. Then purchases shares of XYZ stock:

    Jan 1 - 1 share
    Jan 2 - 2 shares
    Jan 3 - 3 shares
    Jan 4 - 4 shares
    Jan 5 - 5 shares

    Note: since date acquired is not a column option to display, I simplified my purchases (e.g., 1 share on Jan 1, 2 shares on Jan 2, etc.). On Jan 6, I transferred all 15 shares to the brokerage 2 account.

    The best I can tell, there is absolutely no rhyme or reason why the lot numbers were assigned. The first purchase was assigned lot 4 of 5, the second purchase lot 2 of 5 (this is correct), the third purchase lot 1 of 5, etc. (see attachment 1).

    If I attempt to rearrange the transferred shared based on the date acquired, then the Share Balances are out of wack (see attachment 2).

    PS. I thought I posted a version of this earlier in the evening, but it appears to have disappeared. I'm sorry if it's a duplicate.
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