How to properly record basis and gains in Quicken for Windows

Timbo2022 Member
edited June 2023 in Investing (Windows)

I sold all the shares in the one fund that I had in one of my Vanguard accounts, then transferred the proceeds out to a MM account. Quicken recorded all the proceeds as dividend income in the income report I generated…the basis is not accounted for. I believe it did this because I erroneously set the "Transfers out: Tax Schedule" of that account to dividend income. I'm not sure what the proper way the correct this is. I'm, pretty sure I should remove the Transfer out tax schedule information, leaving the box blank. I'm not sure how to proceed from there to make sure the transaction is entered properly, so that both the basis and LTCapg are accounted for. The basis is recorded in my Vanguard account so I know it's value. I'm hoping someone can tell me how to proceed. Thanks in advance.


  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited May 2023

    First, go to the account where you held the shares that were sold and click on Holdings. Set the As of date to the day before the sale. Is the cost basis recorded correctly in the holdings? If not, you need to review the transaction(s) that put the shares in the account, typically Bought or Added. That is where the cost basis will be recorded.

    How is the sale recorded in the account's Transaction List (Register)? It should be Sold or SoldX, which would sell and transfer the proceeds. Any capital gain or loss will be recorded in the account where the shares were sold, so that account must be included in your report.

    Assuming this is a taxable account, you would be right to leave the Transfers out entry blank.

    QWin Premier subscription
This discussion has been closed.