I have a placeholder entry that I did not expect

I have just started using the Home & Business version to track a new investment account. I entered the first set of Buy transactions manually. When I look at the register in my account, one, and only one of the eight holdings, is showing a Placeholder entry for a date later than that of my original entry and it is for a different number of shares. I haven't downloaded anything from my broker. In fact, I am unable to connect my investment account to the Royal Bank account. I plan to enter transactions manually, so that is not a big concern. My question is, can I turn off automatic placeholder entries and then delete this placeholder. What is the effect on tax reporting?
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Best Answer

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Answer ✓
    I wouldn't allow any placeholders to be entered automatically, ever.  Let Quicken ask; that alerts you that something's wrong. (in a connected Account the "wrongness" can be coming from the broker's end), and then you decide to either fix the problem if it's in your Account, or don't allow the placeholder if the broker's number is in error.
    You should be able to simply delete that placeholder.  Its deletion will have no effect on tax reporting because from the point of view of the tax report the insertion of the placeholder and the deletion of the placeholder "never happened."

Answers

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    Answer ✓
    I wouldn't allow any placeholders to be entered automatically, ever.  Let Quicken ask; that alerts you that something's wrong. (in a connected Account the "wrongness" can be coming from the broker's end), and then you decide to either fix the problem if it's in your Account, or don't allow the placeholder if the broker's number is in error.
    You should be able to simply delete that placeholder.  Its deletion will have no effect on tax reporting because from the point of view of the tax report the insertion of the placeholder and the deletion of the placeholder "never happened."
  • InvSimply
    InvSimply Unconfirmed, Member
    Thanks for that really complete answer. The Quicken help contents do not make that totally clear