Can Cost Basis be changed when using Quicken Classic?

MJH1944
MJH1944 Quicken Windows Other Member
in Download, Add/Update Accounts (Windows)

I am using Fidelity investments as broker. When I download investment info to Quicken Classic, no cost data is provided. I am tracking all of my accounts using the simple tracking account feature, hence no transaction register.

How can I add a cost basis for my new stock purchases?

Answers

  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭

    The only way to accurately track cost basis in Quicken is to record all the transactions, which would require you to use Complete mode. In Simple mode, share balances are adjusted behind the scenes using Added and Removed transactions rather than Bought and Sold.

    If there are only a few securities and not much activity in the account, it might be possible to keep the Simple mode cost basis pretty close to reality by periodically switching to Complete mode so you can see the transactions and whenever shares are added, edit the transaction to include the approximate cost basis. This may be more trouble than it is worth.

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