Calculation of cost base for capital assets - avg cost vs just LIFO/FIFO

gk001
gk001 Quicken Mac Subscription Member
edited May 18 in Canada Mac

For Canadian tax purposes, the adjusted cost base of a capital asset is calculated on an average cost basis, not FIFO or LIFO.

Quicken for Mac should provide an option to use the average cost basis for calculating the cost base of an asset.

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  • Chris_QPW
    Chris_QPW Quicken Windows Subscription Member ✭✭✭✭

    I will point out that for some mutual funds such securities it is also common to use the average cost basis, so even the US side needs this too.

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  • mark16
    mark16 Quicken Canada Subscription Member

    quite dissapointed to learn that the only options are LIFO and FIFO. Canadian users need average cost base.

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