SHARES TRANSFERRED BETWEEN ACCOUNTS--OMG!!!!!!!!!!!!!!DISCOVERY

Are you ready for this????? This may just blow your mind if you are not aware of this.
I transferred several accounts from Vanguard and T.Rowe Price to Fidelity. I used the "transfer shares between accounts " to record the transactions. Quicken simply removes the shares from the account and adds it to the Fidelity account.
Great!!!!!
What I just realized is Return Year to Date for the Vanguard and T. Rowe Price accounts now show large losses for the month and Fidelity shows large gains for the month. When I look at investment portfolio by security, the YTD return looks ok. However, if you look at YTD by account, it is really messed up.
Has anyone had this issue with this problem

Answers

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    If you have moved securities between Accounts, you must include both accounts in the analysis.
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  • Gary R
    Gary R Member ✭✭
    Jim
    Both accounts are included. The problem is that when you remove shares from one account it records the removal of shares as a loss on each security. Then the account receiving the shares gets the cost basis and large gain.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Sorry I was thinking of Avg Annual Return. 

    You are right, Return is weird in that case.
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  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    I could write a long-winded explanation and commentary, but the bottom line is that what you are seeing is the way Quicken is programmed.  Shares were added to the Fidelity account at a low value.  They now have a high value.  Therefore, you have a big return.  Opposite in the 'remove' accounts.  

    Again a reason I place more value on the Average Annual Return calculations. 
  • Gary R
    Gary R Member ✭✭
    Thanks Q----I spent the entire day yesterday trying to come up with a fix and wasted endless hours. I went back and changed the "remove shares" to a sale of each security with the current price. Then, changed all my Fidelity "Add on " securities to the cost basis of the shares transferred. Complete waste of time and it didn't accomplish anything.
  • Gary R
    Gary R Member ✭✭
    Well, the good news is that after all is said and done, The unrealized Gains and % unrealized gains and losses are correct.