Problem with "Shares Transferred Between Accounts" and Crypto

Question

When I use the transaction type "Shares Transferred Between Accounts", the wrong purchase price is recorded in the receiving account.  Thus lossing the cost basis of the shares transferred.  Right now I have to manually correct eact asset.  The receiving account is an offline account I created to represent my HW Wallet for crypto. Has anyone encountered this?  Am I doing this wrong?

HDRK · Answer

Thanks for your time trying to help.  After reading the linked discussion you provided, I conclude that I am still using Transfer Shares correctly but don't understand what is happening with price. So I have to investigate your point on average cost.  Also, I am almost caught up to my current state on the trading platform as well as the HW wallet by doing the transfer and then adjusting the price of each lot.  After that, on my next transfer off the trading platform, I will have to pay very specific attention to see if I can determine where the wrong price is coming from or if the problem is corrected.

Much oblidged

Brad

Jim_Harman · Answer

@HDRK

Sorry, I linked the wrong discussion. Here is the correct one:

https://community.quicken.com/discussion/7962903/transferring-vanguard-individual-mutual-fund-accounts-into-single-brokerage-account

After some back and forth, that discussion describes the bug you are seeing. I think it boils down to this:

If the securities are set to Use average Cost, the Shares transferred between accounts action transfers the shares Quicken thinks you hold today, not the ones you held as of the transaction date. Or maybe it is that it uses the average cost per share as of today.

You will have to study the discussion to see how it applies to your situation.

HDRK · Answer

Not sure I am interpreting your question correctly.  There are shares of 'X' in the old account after the transfer date of 'X' but these are different purchase lots.  The share balance of 'X' immediately after the transfer, is 0.  I am in a catch up process, capturing purchases and transfers to my wallet , as I have only recently started using Quicken for tracking my investments.  Once caught up and in the future, I am guessing there would not be any shares of 'X' in the old account after a transfer.  The whole issue to me looks like a SW bug,