New basis of investment when transferred from IRA for RMD to taxable brokerage account

Question

I download transactions from TD Ameritrade into Quicken with normally no issues. However when some shares of investments were transferred for my RMD from the IRA to one my taxable accounts (same investments) quicken shows the actual cost in the taxable account as the same as from IRA. The value of investment when transferred is supposed to be the new cost/basis however for the taxable account... Do I just edit it or ... what is the best way to have numbers correct?  Thanks

Sherlock · Answer

If you enter the RMD value with the number of shares as suggest earlier, Quicken should calculate the appropriate share price.  I suggest you delete the inappropriate transactions you imported.

Tom Young · Answer

@Grandma BYou need to enter the sale using the current market price per share at the time of the in-kind distribution.  That way you have the correct amount of cash in the IRA to transfer to your after-tax Account, and then use the cash to buy the security again at the same price.The Transfer action in Quicken simply moves the security, cost basis intact, into a different Account, and that's not what you want here.

Grandma B · Answer

When entering the sale in the IRA - what do I enter as the price? The value at transfer since that'd be the new cost in the taxable account. OR - the original cost from the IRA since really just a transfer?? -- I did make sure the tax schedule as commented from Sherlock is set as he suggested.  --The download from TD Ameritrade into quicken is as just shares out - not even shares transferred.