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Cost Basis Incorrect

LadyAleena

I have inherited several holdings accounts, so I don't have the cost basis for EACH transaction, but I have the CURRENT cost basis. How can I correct my holdings in Quicken to match my statements?

ALSO, I have adjusted the shares balances using "Update Share Balances", but when I click the holdings tab, I still get stocks showing up that should have 0 shares, and the stocks I just corrected are still showing the amount before the correction. Any suggestions?

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Comments

Sherlock

To establish the cost basis of inherited securities, I suggest you use Added action transactions: press Ctrl + N and Alt + Z

Regarding the share balances, I suggest you check the register for placeholder transactions. If you haven't already, you may want to check Show hidden transactions: select Edit > Preferences...

Image: https://us.v-cdn.net/6031128/uploads/editor/gp/smeez1zyvg1z.png

Tom Young

I assume you've inherited securities and somehow have access to the Quicken Accounts that presents the history of transactions that resulted in the holdings you've inherited.

If that's a correct interpretation of your situation, then there's absolutely no point in maintaining those Accounts and those transactions because they are completely irrelevant to you.

At this point you only have one lot of stocks for all the inherited securities and all those securities are considered long term. I'd simply create new investment Accounts in Quicken and do one Add for each security, with the correct number of shares inherited and the correct cost basis. That's your starting point and those Accounts will then show your subsequent transactions.