How do I sell lots of a security for tax-loss purposes? QPremier R40.21

corndog638
corndog638 Member ✭✭
edited June 2022 in Investing (Windows)
I sold five specific lots of a holding to harvest tax losses. How do I remove them from the register and account for the loss in value?

Best Answer

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Answer ✓
    I tried shortsale and a sold transaction in the account register for one lot amount and with price received and wasn't prompted to pick a specific or enter a purchase price. I checked "Preferences" and a box I'm not familiar with "Enable Simple Investing" is checked.
    Simple Investing only tracks positions.  Quicken will not be able to calculate capital gains or losses, or investment income.

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    How did you (have you) record this in Q?  Because any SELL action, with a sell price that's lower than the purchase price will achieve your objective.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • splasher
    splasher SuperUser ✭✭✭✭✭
    When you enter the Sell transaction, you have the choice to specify lots in the selections at the right of the transaction in the register or in the transaction pop-up.
    -splasher  using Q continuously since 1996 -  Subscription Quicken  -  Win11
    -Questions? Check out the  Quicken Windows FAQ list
  • corndog638
    corndog638 Member ✭✭
    I tried shortsale and a sold transaction in the account register for one lot amount and with price received and wasn't prompted to pick a specific or enter a purchase price. I checked "Preferences" and a box I'm not familiar with "Enable Simple Investing" is checked.
  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Answer ✓
    I tried shortsale and a sold transaction in the account register for one lot amount and with price received and wasn't prompted to pick a specific or enter a purchase price. I checked "Preferences" and a box I'm not familiar with "Enable Simple Investing" is checked.
    Simple Investing only tracks positions.  Quicken will not be able to calculate capital gains or losses, or investment income.
  • corndog638
    corndog638 Member ✭✭
    OK, I backed up my file, unselected "Enable Simple Investing", and now a "specify lots" button appears. Problem solved; thanks for the clues.
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