Incorrect Cost Base

Ripper

I'm having issues with Quicken basically not working properly with short-then-cover transactions followed by buy-then-sell transactions in a margin account.

The short-then-cover transactions work fine. And then the buy works fine, but when I try to sell, an error message pops up... "You should use two transactions: one to sell the shares you hold and one to create your short position". If I enter the sell position directly without using the dialogue assistant, then the sell transaction is accepted but my Amount Invested shows as $92 quadrillion :(

Can anyone tell me how to sort this out?

Thx

Sherlock

It appears Quicken thinks you're attempting to sell more shares than you hold.  Perhaps there is an unresolved hidden placeholder transaction in the register interfering the calculations when you force the sale. 

Ripper

> @Sherlock said:
> It appears Quicken thinks you're attempting to sell more shares than you hold.  Perhaps there is an unresolved hidden placeholder transaction in the register interfering the calculations when you force the sale. 
---------
Referencing the "Security Report", I was holding 200.000 shs of the security, then sold the 200.000 shs of the security (by the direct entry because I get the error using the dialogue). I assume there's 0.000 shs left now.

I guess there could be an unresolved hidden placeholder but the account register says there are none. Although in the "Security Report", there's a mostly blank line between the buy and sell lines but with
"Cash" of 0.00 and "Amount Invested" of 0.00. I don't see such a line in any of the other transactions for the security in question.

Sherlock

Ripper said:

> @Sherlock said:
> It appears Quicken thinks you're attempting to sell more shares than you hold.  Perhaps there is an unresolved hidden placeholder transaction in the register interfering the calculations when you force the sale. 
---------
Referencing the "Security Report", I was holding 200.000 shs of the security, then sold the 200.000 shs of the security (by the direct entry because I get the error using the dialogue). I assume there's 0.000 shs left now.

I guess there could be an unresolved hidden placeholder but the account register says there are none. Although in the "Security Report", there's a mostly blank line between the buy and sell lines but with
"Cash" of 0.00 and "Amount Invested" of 0.00. I don't see such a line in any of the other transactions for the security in question.

If you're intending to sell the entire long holding of a security in an account, I suggest you check Sell all shares in this account using the Sell - Shares Sold wizard.



Note:  I have some recollection of Quicken having issues getting same-day transactions right.  To insure proper handling, I suggest same-day transactions be entered as if they were on different days.

Regarding possible unresolved hidden placeholder transactions, if you haven't already, I suggest you check the Show hidden transactions preference and review the register: select Edit > Preferences...

Ripper

Thanks for you assistance Sherlock.

I actually do have "Show hidden transactions" checked.

I tried deleting the offending transaction and then re-entering with the dialogue box (per your example above) but I get the same error... "You should use two transactions: one to sell the shares you hold and one to create your short position". The example I used are not same-day transactions.

I'm surprised that no one else is having the same issue(s).

Tom Young

That $92 quadrillion number is a well-known figure, indicating some sort of file corruption.  It appears, based on other posts, that one entry - maybe not having anything to do with the security in question - can cause this.

Here is on person's solution:  https://community.quicken.com/discussion/comment/17354930/#Comment_17354930

Ripper

> @Tom Young said:
> That $92 quadrillion number is a well-known figure, indicating some sort of file corruption.  It appears, based on other posts, that one entry - maybe not having anything to do with the security in question - can cause this. Here is on person's solution:  https://community.quicken.com/discussion/comment/17354930/#Comment_17354930

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Thanks but the above link isn't working How can i navigate to "#Comment_17354930"? Seems like there may be a solution at that location to correct the possible file corruption. Odd that Quicken hasn't addressed this issue given it's been a known issue for a while.

Sherlock

Ripper said:

> @Tom Young said:
> That $92 quadrillion number is a well-known figure, indicating some sort of file corruption.  It appears, based on other posts, that one entry - maybe not having anything to do with the security in question - can cause this. Here is on person's solution:  https://community.quicken.com/discussion/comment/17354930/#Comment_17354930

-------
Thanks but the above link isn't working How can i navigate to "#Comment_17354930"? Seems like there may be a solution at that location to correct the possible file corruption. Odd that Quicken hasn't addressed this issue given it's been a known issue for a while.

Here's a more recent discussion on the topic that has not been archived by the moderators yet: https://community.quicken.com/discussion/7914994/enormous-unrealized-loss

q_lurker

The reply from a @“steve Parker” in that first cited post

I fixed it.  By running investment reports was able to narrow it down to a trade in an IRA account involving Cisco.  Eventually found that it was every trade involving Cisco in that account; about ten of them, all 10 - 15 years ago.  Tried some test transactions with that security; sometimes caused $92 quad, sometimes not.  Changing to any other security in the bad transactions fixed it.  So, I deduced CSCO was the problem and did the following: 

--I changed the name of it to Cisco - corrupted, and changed the symbol to CSCO-X.  

--Then added new security CSCO.  

--Went thru' and edited each trade, all of which were showing CSCO-X, to the new security CSCO

--Followed by validate and rebuild investing lots because account balance was off.  

--Then deleted CSCO-X.

So far no more $92 quadrillion (knock on wood).
end-quote

Ripper

Ok, I'll try that later today when i get a chance. I have 26 transactions for FM in the account dating from 2010 and will let you know how it works out. Also having the same issue with TCK.B...so if your fix works, I'll do same for TCK.B

Oddly enough the issues arose after short-then-cover transaction(s) followed by a buy-then-sell transaction(s). Got the dreaded "You should use two transactions: one to sell the shares you hold and one to create your short position" error when trying to enter the sell the long position... had to enter it manually without the dialogue box. Same for both FM & TCK.B which has to be more than coincidence I think, must an embedded issue with Quicken?