tda to schwab capital gains


Quicken lists the purchase date for securities transferred in the TDA to Schwab merger as the date of the merger. Therefore all capital gains are listed as short term gains, when some are long term gains. How do I correct that?


  • John_in_NC
    John_in_NC SuperUser, Mac Beta Beta
    edited March 31

    You likely got remove/add shares transx (or simply add shares) downloaded. This is routine, and while mathematically correct, it ignores acquisition/cost basis for each lot as you noted. Quicken can't fix this automatically; it will require manual intervention.

    I don't know the details of how this merger occurred (or, more importantly, how it is represented in your file), but the devil is in the details:

    If you created a new account for Schwab, you could use a Transfer Shares transaction in your older TDA account that will transfer over each security/lot with acquisition dates/cost. You can choose to do all securities (shown) or individual securities where you can specify lots (less likely). This will dump all the add shares for each lot into new account:

    Again, I don't know the details, and this will require some babysitting on your end (make backups beforehand!) But, I think a new account kept offline at first, and then transferring securities into it as shown above, and then take account online. You might have to deal with some placeholders, but you will be able to get the lot history into the Scwab account.

    (I assume you are holding the same securities, just at Schwab instead of Toronto Dominion/Ameritrade)

  • megnmac
    megnmac Member ✭✭✭

    Thank you, I will try that. I did remove/add shares, which required a lot of editing but still did not work error free. Instructions from Quicken were not very helpful, as a lot of questions following the merger shows.