Cost basis is wrong for fund with constant $1/share price

Question

Quicken Windows Premier R60.20.

I have a managed investment fund that has a $1/share value.  Quicken downloads are completed every month from financial institution with adds/removals of shares from fund.  The cost basis is completely off, due to the adds and removals and not the share price change.

Example:  Initial investment $75; current value $70; cost basis $38.   Cost basis should be $75.

Thanks for any feedback/workaround/trick.  Not a critical issue.

Michael Farley · Answer

q_lurker:  The Add Share transactions did not have a cost.  I inserted $1 for each and the cost basis did come out to the current value.   Thanks.

notacpa:  Type is Other.  I looked at price history and there were some non-$1 entries for some reason.  Corrected to $1, did not delete.

Gain/Loss in Value view of Portfolio is $0 now.  Would like to see actual loss, but don't worry about it.  Zero is good!

Thanks for the responses.

NotACPA · Answer

Try TOOLS, Security List.

1st Question: What's shown as Security Type.  And UNcheck "Download Quotes" for this security.

2nd, Click MORE and "Edit Price History".  Are any non-$1 prices shown?  Delete them.

Now, how do things look?

q_lurker · Answer

Quicken downloads are completed every month from financial institution with adds/removals of shares from fund.

That sounds to me like an approach of convenience rather than one of financial accuracy.

Do the Add Share transactions have a cost associated?  (Edit a transaction to see the details.).

Are the Removes specifying the actual lot of shares removed?  If some lots have different basis values per share, that could lead to such issues.

You say the basis should be $75.  If the fund has a constant value of $1/sh and is valued at $70, I’d expect the basis to be $70.

Are you just relying on the downloads?  I don’t count on the brokers to get the data right for my needs.  Research, understand, correct as necessary.