TD Conversion to Schwab - Lost cost basis

scott62556

After I completed the transition from TD to Schwab and reconciled the Balance adjustments that resulted, I realized that the cost basis of my investment are lost. Every investment has a purchase date of 9/10/23 and a cost basis of zero. The cost info is on the Schwab site but lost in quicken. Did I miss a step?

bmciance

All I did was change the account name in Quicken and enter/update the login information. I just deleted any "transfer" entries that were downloaded after the conversion. I don't particularly care about the cost basis because it is my IRA but the conversion had no impact on the cost as everything just stayed the same.

Jim_Harman

It is not uncommon for Quicken's detailed cost basis information to not transfer when you rely on downloaded transactions to move holdings between accounts.

I suspect that if you look at your new Schwab accounts, you will see one Added transaction for each security you held in the corresponding TDA account. If you edit the Added transaction, you will see that the Total cost and Date Acquired fields are blank. That is where Quicken would get the cost basis. If you held multiple lots of the security in the TDA account, such as by reinvesting dividends, at best the cost basis of those lots will be lumped together.

In order to preserve the cost basis, you must generally use one of the methods described in this FAQ:

https://community.quicken.com/discussion/7930273/faq-changing-brokerages

scott62556

Thanks for the reply. I used the Keep Same Account method and followed those instruction. However my basis information was lost.

Jim_Harman

Were Removed and Added and/or Placeholder transactions downloaded at the time of the transition?

You would have to delete then.