Changing average cost to reflect Fidelity

captndick

A fund I hold in a Fidelity IRA has its monthly dividend reinvested. The shares purchased with the reinvested dividends show a cost of $0 every month. This is how Fidelity handles reinvested dividends in an IRA because gains and losses aren't important. Consequently the average share price on the Fidelity site keeps dropping artificially. When I use Quicken update, it calculates the reinvested dividend transactions with the share price at time of purchase. So for that fund I show a loss in Quicken but a gain on Fidelity web site. I'd like Quicken to mirror Fidelity. How can I do that?

NotACPA

Let's go back a step. Why are you using Average Cost instead of lots? Perhaps are you Canadian, where I understand that average cost is required?

And, I've complained to Fidelity for years about their $0 cost on reinvested divs in retirement accounts. True, the cost isn't needed for tax purposes … but it IS needed for investment performance purposes.

For my retirement accounts at Fidelity, I basically ignore their cost figures, and rely upon Q's. As long as the account values are close, I'm OK.

And, I say "close" and not "the same" because Fidelity truncates fractional pennies and Q rounds. So an investment with a calculated value of $99.999 will show as $99.99 at Fidelity and $100 in Q. This frequently leads to Q's account balance being a few pennies off from Fidelity's since I hold multiple positions in each acct.