ACB (Cost Basis) Calculation

mark16

Please add "average cost" to the FIFO and LIFO dropdowns in an investment account's settings and clarify how the "use average cost" (in Security Details) box is used relative to those dropdowns. Note, Canadian tax law requires use of average cost only (ie FIFO and LIFO are not allowed), so Canadians using Quicken can't rely on its cost numbers to prepare their tax returns.

mark16

waiting for a reply from Quicken

Quicken Kristina

Hello @mark16,

Thank you for coming to the Community to share your feedback! Idea posts that get enough votes may be implemented in the future!

Thank you!

Diana

This is a big deal for Canadians. Simple things like holding a very common stock like ENB or BMO in 2 or more non-registered accounts and then selling only a few shares will be difficult to manage. Average cost can be calculated fairly easily for tax purposes. But then, it is difficult to figure out how to "remove" the sold shares ACB from the remaining shares (across multiple accounts).

mark16

Kristina - how do people know to "vote" for a comment?

Quicken Kristina

Thank you for your reply,

https://community.quicken.com/discussion/comment/20540549#Comment_20540549

To vote for an Idea, you click the number in the voting box. If the little triangle is greyed out, that means you already voted.

For more information on creating and voting for Ideas, please see this discussion:

https://community.quicken.com/discussion/7849425/creating-and-voting-for-ideas-in-the-community

I hope this helps!