Short term basis incorrect on sale

funkws

It appears Quicken is not using the actual cost of short term sales (of dividends reinvested) when a long-term holding was sold last year. It is also not an average cost shown in the basis, as the value is not proportional to the number of shares. I had a similar problem in 2022 on another long term holding and was able to find a work-around with your help. In this case, is there a way to force Quick to report the sale on an actual lot-by-lot match to the original cost? Alternatively, if there is a way to export the lot information into Excel from the account overview report, I could perform the calculations manually. Many of the lots are too old to show a basis in my broker's 1099B.

Jim_Harman

Is this a mutual fund sale? If so, click on Holdings in the account where it is held then click on the name of the security to open the Security Detail view. Click on Edit Details and if the Use average cost box is checked, un-check it.

If you have already entered the sale, you should delete and re-enter it after un-checking the Use average cost box.

q_lurker

Just for reference, I presume this is the 2022 discussion you make reference to:

https://community.quicken.com/discussion/7909687/cost-basis-of-stock-lot-changed-when-stock-sold

Not clear to me, in a quick look, if you got to a complete resolution at that time. What I did see in that discussion were several points where differences could develop.

funkws

Jim - This is a common stock (BAX). I see no option in the detail screen regarding average cost options.

Q - You are correct. I ended up with a long excel sheet to address the issue. I can do the same but most of the lots are before the broker recorded the cost basis. So, I am just trying to save a lot of data entry and any errors I might introduce doing that.

q_lurker

In this case, is there a way to force Quick to report the sale on an actual lot-by-lot match to the original cost?

Edit the Sale transaction. You should see a Specify Lots button. There you can specify which lots are being sold. Default is the FIFO selection.

Alternatively, if there is a way to export the lot information into Excel from the account overview report, I could perform the calculations manually. Many of the lots are too old to show a basis in my broker's 1099B.

Rather than the Account Overview, you can customize a portfolio view to the columns you need to see, Group by Account, and Expand All or click the + to see the by lot information. From there you can Ctrl-P to print and then select to export as a CSV file that you can import into Excel.

funkws

Q - Thanks. I already tried the first idea (I think you had that in your response to my 2022 issue), but the capital gains report did not change. (I really thought that would work). I don't seem to be able to execute a print function from the account overview, but I do have series of screen prints that I will need to copy into a spreadsheet. Fortunately, I did get a CVS file from the Schedule D report - just need to fix the cost field.

q_lurker

I don't seem to be able to execute a print function from the account overview, 

I was saying to use a portfolio view (ctrl-u) to get the print option, not the account overview.

funkws

Is there any chance a live person at Quicken could look into this? The support pages do a great job of keeping customers at arms length.

Quicken Kristina

Hello @funkws,

If you are wanting to contact Quicken Support directly for assistance, you can find their contact information in the article linked below:

https://www.quicken.com/support/quicken-support-options/

Phone support is available from 5:00 am PT to 5:00 pm PT, Monday through Friday. Chat support is available from 5:00 am PT to 5:00 pm PT, 7 days a week.

You can also find Quicken Support's phone number in this Quicken for Windows Help Article:

https://info.quicken.com/win/contacting-quicken-support?_gl=1lkmpwy_gaNDUzNzI1NjM3LjE3MzI1NTM4MDI._ga_800C54VH4B*MTc0MTEzMjM5OC4zMjkuMS4xNzQxMTM1NzI5LjQwLjAuMA..

I hope this helps!

funkws

A quick update on the issue - after downloading all of the transactions posted for the security sold (which gave me a 790 row worksheet), I ran the calculations by hand, using the data in each transaction. The result was a difference in the basis value of over $4,000. These calculation footed with my broker's 1099 during the period in which the transactions were "covered". Not exactly a ringing endorsement of the product.

q_lurker

"footed"???

"downloading all of the transactions" — from where? A fresh download from the brokerage, or are you saying an export of the Quicken transactions that you then opened in a spreadsheet?

Difference in basis comparing what to what?

Since 1992, BAX has generated 4 spinoffs and 3 regular stock splits. The splits would alter the basis per share, but not the total basis in that holding at that time. The spinoff would alter the total basis in the BAX holding each time. Do your Quicken records properly reflect each of those transactions? Did your worksheet calculations properly reflect all those transactions?