How do you "Correct/Update the Cost Basis of a Security if it is Not correct in Quicken"?

Don_Acosta

How do you "Correct/Update the Cost Basis of a Security if it is Not correct in Quicken"?

I just want to have "Accurate Gain/Loss Information".

Thanks,

Don Acosta

q_lurker

Sometimes, I will use a RtrnCap transaction to adjust a cost basis. A positive amount will reduce the basis; a negative amount will increase the basis. If there are multiple lots of the security held in the account, the RtrnCap may not distribute the amount to the lots in the way you might need.

A RtrnCapX with the transfer account specified to be the same as the holding account will not change the cash balance in the account. When I come upon this circumstance, I try to determine why the basis is off and that can lead to another adjusting transaction that addresses the cash balance in combination with a regular RtrnCap transaction.

The other way to adjust the cost basis is to Remove Shares and the Add Shares back in with the correct basis. That approach can have a negative impact on some performance return measures.

Boatnmaniac

Do you have any Placeholders in your account register?

If you do not see any, go to Edit > Preferences > Investments > make sure the box is checked for Show Hidden Transactions. Then go back to the account register and look for Placeholder transactions. If they are present they should also be listed in a "Placeholders" tab below the register.

Placeholders will have shares to identify when there is a count discrepancy between the holdings that are in Quicken and what was reported to Quicken by the brokerage. But Placeholders will not have any cost assigned to them.

If you find Placeholder transactions, they will need to be resolved. Part of that process will be to add the appropriate cost information. This process can resolve some cost basis issues. You can read up on this some by going to Help > Quicken Help > search for How do I resolve placeholder entries?

Don_Acosta

Thanks, I will check to see if I have any Placeholder Entries.