Stock "cost basis" information didn't transfer with TD Ameritrade sale to Schwab

7107BLC

I have Version 7.5.2 of Quicken Classic (Deluxe)

The cost basis for my stocks show up as zero in my quicken "Schwab account", giving a 100% gain for each stock that was transferred from my TD Ameritrade account into my newly set up account for Schwab.

Is there a way to correct the downloaded information or possibly manually edit each stock's information to establish a correct cost basis?

Jim_Harman

One way is to edit the Added transactions in the Schwab account so that they have the correct acquisition dates and cost, but if you have multiple tax lots and will be making partial sales, the cost basis will be wrong again. Or you could do this:

This will enter one Removed transaction for each security currently held in the old account(s) and an Added transaction in the new account for each tax lot of each security. It preserves the cost basis and acquisition dates of the securities transferred. The original cash and security transactions will remain in the old accounts.

1. Make sure the holdings in your old account(s) prior to the transfer are up to date and accurate. 
2. Back up your data file in case something goes wrong.
3. In the old account(s), click on the gear, pick Edit account details, and on the Online Services tab, click on Deactivate.
4. If there are transactions in the old account(s) that remove the holdings for the transfer, delete them.
5. Set up the new account in Quicken if you have not already. If there are already transactions that transfer the holdings into the account or transactions that duplicate ones that are already recorded in the old account, delete them.
6. In the old account(s), click on Enter Transactions and pick Shares transferred between accounts.
7. Select All securities and click on Enter/Done.
8. If there is any cash in the old account(s), enter a Cash Transferred out of account to move it to the new account.

When reporting on performance over a period that includes the transfer, include both the old and new accounts in the analysis.

7107BLC

Thanks Jim!

It will take some time to work through but I really appreciate your input.

😁