Add Lot Management to Quicken for Mac to support selling specific investment lots (132 Legacy Votes)

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Comments

  • smayer97smayer97 SuperUser ✭✭✭✭✭
    edited August 2018
     This IDEA has been added to the: You may want to click on each underlined link, then follow the instructions on each page to add your vote to more related ideas.

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

    If you find this reply helpful, please be sure to click "Like", so others will know, thanks.

    (Canadian  user since '92, STILL using QM2007)

    Have Questions? Check out these FAQs:
  • BruceGBruceG Member
    edited February 2017
    urbanian said:

    I can't figure out how to "like," but I did "vote." This lack has me still stuck on QM2007.

    I have the same need for a sales transaction in my IRA account.
  • BruceGBruceG Member
    edited December 2016
    urbanian said:

    I can't figure out how to "like," but I did "vote." This lack has me still stuck on QM2007.

    To handle this situation in Quicken 2017, I created a Dummy Stock called "Stockname Dummy" and gave it the Symbol !(old Symbol). I then bought an sold using this Dummy Stockname. If you sell odd lots, you will have to make sure you account for this dummy entry.
  • Lyn BuddenhagenLyn Buddenhagen Member ✭✭
    edited February 2017
    urbanian said:

    I can't figure out how to "like," but I did "vote." This lack has me still stuck on QM2007.

    Kludgy.
  • GregGreg Member
    edited May 2017
    This reply was created from a merged topic originally titled Any plans to include the ability to specify which Lots to sell within an investme....


    Lot based transactions (Sell) in Quicken.  Years ago this ability was included in Quicken for Windows.  I switched to Mac years ago and really miss this feature/ability.  I have a workaround but it is really messy and messes up my cash balance.
  • ConcordmanConcordman Member ✭✭✭✭
    edited November 2017
    The folks at Quicken have committed to parity with QW & Q2007 but it will take time , probably 2+ yrs. There is lots to do in bringing QM up to snuff in the investment aspects of the program, hopefully lot management will not be too painful as individual lot purchases already work in QM.
  • MtechMtech Member
    edited August 2017
    CwGil70 said:

    I'm not going to upgrade unit this feature is added.  Two cost basis methods aren't enough.  I'm not sure why the Mac and Windows versions are so different.  I understand they're different operating systems but they should've started with the latest Windows version for features and add from there.  Also, it would be amazing to update the same saved file from both Mac and Windows versions.    

    Seems to me like a beta program rather than fully baked. Voted for this feature and several others, but I can't use Mac version in this iteration. Returning it and going back to Windows version in VM. Maybe next version will work better.
  • smayer97smayer97 SuperUser ✭✭✭✭✭
    edited August 2018
    Here is the first indication by Quicken Marcus that his is in the works for release in QM2018. Of course, which actual version it will be released in, only time will tell.

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

    If you find this reply helpful, please be sure to click "Like", so others will know, thanks.

    (Canadian  user since '92, STILL using QM2007)

    Have Questions? Check out these FAQs:
  • jtk.googlejtk.google Member ✭✭
    edited November 2017
    Is this in QM 2018 now?  https://www.quicken.com/support/2018-release-quicken-mac-release-notes says in 5.0.0: "NEW Explicit lot assignment"
  • ConcordmanConcordman Member ✭✭✭✭
    edited October 2017

    Is this in QM 2018 now?  https://www.quicken.com/support/2018-release-quicken-mac-release-notes says in 5.0.0: "NEW Explicit lot assignment"

    Yes Lot management is one of the features in QM18, as I recall Marcus mentioned it has been the number 1 request for a long while
  • BenBen Member
    edited November 2017
    I'm not certain, but I believe you may need to pay for the premium subscription to obtain this feature. 

    The "old" Quicken used to have tons of useful investment data/analysis that was not included in the newer "bare bones" version.  They've monetized the features most likely to be of value to users financially benefiting from the more investment data.  Smart corporate move.  Good for them.  Not so much for us ...
  • ConcordmanConcordman Member ✭✭✭✭
    edited October 2017
    Ben said:

    I'm not certain, but I believe you may need to pay for the premium subscription to obtain this feature. 

    The "old" Quicken used to have tons of useful investment data/analysis that was not included in the newer "bare bones" version.  They've monetized the features most likely to be of value to users financially benefiting from the more investment data.  Smart corporate move.  Good for them.  Not so much for us ...

    Lot management is available with Deluxe & Premium versions QM
  • RobbieKRobbieK Member
    edited October 2018
    WARNING REGARDING LOT MANAGEMENT! I haven't called Quicken yet to complain, but I purchased the 2018 Deluxe version solely because of lot management a couple of days ago, and, at the moment, it's virtually useless. 

    Does it import your specific share assignment from Quicken 2007? Yes, it appears it does. Does it allow you to sell specific shares, rather than default to FIFO? Yes, it appears it does. But why is that function desired in the first place? Here's why for myself, and frankly I can't think of any other reason why one would need lot management. It's so you can instantly and accurately calculate capital gains, based on your specific share choices. Can the current Quicken 2018 do a capital gains report? As far as I can discern, NO IT CANNOT!!!! 

    I was trying to determine in the software how to do that. After combing through it for about five minutes, I gave up and went to the Quicken Help menu. Needless to say, it's very difficult to locate something in Help that may not exist ("capital gains" simply led me to the topic on how to enter capital gain DISTRIBUTIONS), but finally somewhere, I came across a list of reports, and then I spotted "Investment Reports". Under this topic, it said "This function is under development."  

    Can you believe that?? The main reason (the ONLY reason?) you would need a lot assignment function is not something currently addressed. So whether the software is useful for this purpose right now completely depends on when investment reports are set to become part of the software. You can do the specific share data entry now, which is useful if you don't need a CG report right this moment (but forget about current tax planning wrt capital gains). 

    I intend to find out from Quicken whether this report capability is imminent, and when I do, I'll update this comment, but for now, be forewarned.
  • jacobsjacobs SuperUser ✭✭✭✭✭
    edited October 2017
    RobbieK said:

    WARNING REGARDING LOT MANAGEMENT! I haven't called Quicken yet to complain, but I purchased the 2018 Deluxe version solely because of lot management a couple of days ago, and, at the moment, it's virtually useless. 

    Does it import your specific share assignment from Quicken 2007? Yes, it appears it does. Does it allow you to sell specific shares, rather than default to FIFO? Yes, it appears it does. But why is that function desired in the first place? Here's why for myself, and frankly I can't think of any other reason why one would need lot management. It's so you can instantly and accurately calculate capital gains, based on your specific share choices. Can the current Quicken 2018 do a capital gains report? As far as I can discern, NO IT CANNOT!!!! 

    I was trying to determine in the software how to do that. After combing through it for about five minutes, I gave up and went to the Quicken Help menu. Needless to say, it's very difficult to locate something in Help that may not exist ("capital gains" simply led me to the topic on how to enter capital gain DISTRIBUTIONS), but finally somewhere, I came across a list of reports, and then I spotted "Investment Reports". Under this topic, it said "This function is under development."  

    Can you believe that?? The main reason (the ONLY reason?) you would need a lot assignment function is not something currently addressed. So whether the software is useful for this purpose right now completely depends on when investment reports are set to become part of the software. You can do the specific share data entry now, which is useful if you don't need a CG report right this moment (but forget about current tax planning wrt capital gains). 

    I intend to find out from Quicken whether this report capability is imminent, and when I do, I'll update this comment, but for now, be forewarned.

    Both tracking individual lots and investment reporting have been features glaringly absent from Quicken for Mac. The reporting was held hostage due to the old reports architecture which was built for the predecessor product, Quicken Essentials. Now, the Quicken Mac team has -- finally! -- built a new report architecture. That will enable them to replace the original reports with the added flexibility and features customers have been calling for. The product manager has said they will first replace the old reports, then add new reports. We don't have a timeframe, but I'd expect to see some of these emerging within a few months.

    I assume they decided that the code was complete for selling individual lots and that they'd go ahead and release it to help customers with record-keeping now, and follow with the reporting piece of the puzzle in the future. The alternative would have been holding back the sale of lots until the reporting updates were complete -- which probably would have made no one happy.
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • J_MikeJ_Mike SuperUser ✭✭✭✭✭
    edited October 2017
    RobbieK said:

    WARNING REGARDING LOT MANAGEMENT! I haven't called Quicken yet to complain, but I purchased the 2018 Deluxe version solely because of lot management a couple of days ago, and, at the moment, it's virtually useless. 

    Does it import your specific share assignment from Quicken 2007? Yes, it appears it does. Does it allow you to sell specific shares, rather than default to FIFO? Yes, it appears it does. But why is that function desired in the first place? Here's why for myself, and frankly I can't think of any other reason why one would need lot management. It's so you can instantly and accurately calculate capital gains, based on your specific share choices. Can the current Quicken 2018 do a capital gains report? As far as I can discern, NO IT CANNOT!!!! 

    I was trying to determine in the software how to do that. After combing through it for about five minutes, I gave up and went to the Quicken Help menu. Needless to say, it's very difficult to locate something in Help that may not exist ("capital gains" simply led me to the topic on how to enter capital gain DISTRIBUTIONS), but finally somewhere, I came across a list of reports, and then I spotted "Investment Reports". Under this topic, it said "This function is under development."  

    Can you believe that?? The main reason (the ONLY reason?) you would need a lot assignment function is not something currently addressed. So whether the software is useful for this purpose right now completely depends on when investment reports are set to become part of the software. You can do the specific share data entry now, which is useful if you don't need a CG report right this moment (but forget about current tax planning wrt capital gains). 

    I intend to find out from Quicken whether this report capability is imminent, and when I do, I'll update this comment, but for now, be forewarned.

    A Capital Gains Report is a part of the Tax Schedule Report in QMac.

    For my purposes, I have customized and saved a report template that includes only the Cap Gains portion.
    QWin & QMac (Deluxe) Subscription
    Quicken user since 1991

  • RobbieKRobbieK Member
    edited October 2017
    RobbieK said:

    WARNING REGARDING LOT MANAGEMENT! I haven't called Quicken yet to complain, but I purchased the 2018 Deluxe version solely because of lot management a couple of days ago, and, at the moment, it's virtually useless. 

    Does it import your specific share assignment from Quicken 2007? Yes, it appears it does. Does it allow you to sell specific shares, rather than default to FIFO? Yes, it appears it does. But why is that function desired in the first place? Here's why for myself, and frankly I can't think of any other reason why one would need lot management. It's so you can instantly and accurately calculate capital gains, based on your specific share choices. Can the current Quicken 2018 do a capital gains report? As far as I can discern, NO IT CANNOT!!!! 

    I was trying to determine in the software how to do that. After combing through it for about five minutes, I gave up and went to the Quicken Help menu. Needless to say, it's very difficult to locate something in Help that may not exist ("capital gains" simply led me to the topic on how to enter capital gain DISTRIBUTIONS), but finally somewhere, I came across a list of reports, and then I spotted "Investment Reports". Under this topic, it said "This function is under development."  

    Can you believe that?? The main reason (the ONLY reason?) you would need a lot assignment function is not something currently addressed. So whether the software is useful for this purpose right now completely depends on when investment reports are set to become part of the software. You can do the specific share data entry now, which is useful if you don't need a CG report right this moment (but forget about current tax planning wrt capital gains). 

    I intend to find out from Quicken whether this report capability is imminent, and when I do, I'll update this comment, but for now, be forewarned.

    Thank you JM. I thought about looking at the tax report, and can't now say why I didn't. I just now glanced over the report, but haven't yet confirmed whether the capital gains reflect specific share trades or default to FIFO like Quicken 2016 did, but I assume you are correct. Much appreciated. My rant apparently was premature and unjustified. I will say that Quicken Help was not much help in that regard, and perhaps that should be addressed. But I should have looked at Schedule D.
  • J_MikeJ_Mike SuperUser ✭✭✭✭✭
    edited October 2017
    RobbieK said:

    WARNING REGARDING LOT MANAGEMENT! I haven't called Quicken yet to complain, but I purchased the 2018 Deluxe version solely because of lot management a couple of days ago, and, at the moment, it's virtually useless. 

    Does it import your specific share assignment from Quicken 2007? Yes, it appears it does. Does it allow you to sell specific shares, rather than default to FIFO? Yes, it appears it does. But why is that function desired in the first place? Here's why for myself, and frankly I can't think of any other reason why one would need lot management. It's so you can instantly and accurately calculate capital gains, based on your specific share choices. Can the current Quicken 2018 do a capital gains report? As far as I can discern, NO IT CANNOT!!!! 

    I was trying to determine in the software how to do that. After combing through it for about five minutes, I gave up and went to the Quicken Help menu. Needless to say, it's very difficult to locate something in Help that may not exist ("capital gains" simply led me to the topic on how to enter capital gain DISTRIBUTIONS), but finally somewhere, I came across a list of reports, and then I spotted "Investment Reports". Under this topic, it said "This function is under development."  

    Can you believe that?? The main reason (the ONLY reason?) you would need a lot assignment function is not something currently addressed. So whether the software is useful for this purpose right now completely depends on when investment reports are set to become part of the software. You can do the specific share data entry now, which is useful if you don't need a CG report right this moment (but forget about current tax planning wrt capital gains). 

    I intend to find out from Quicken whether this report capability is imminent, and when I do, I'll update this comment, but for now, be forewarned.

    I took a very cursory look at this feature in Beta and it appears to function as desired.

    Of course any history from 2017 or earlier will be the FIFO/LIFO - which ever one had selected at the time of entry.
    QWin & QMac (Deluxe) Subscription
    Quicken user since 1991

  • M C CrockettM C Crockett Member ✭✭
    edited October 2017
    RobbieK said:

    WARNING REGARDING LOT MANAGEMENT! I haven't called Quicken yet to complain, but I purchased the 2018 Deluxe version solely because of lot management a couple of days ago, and, at the moment, it's virtually useless. 

    Does it import your specific share assignment from Quicken 2007? Yes, it appears it does. Does it allow you to sell specific shares, rather than default to FIFO? Yes, it appears it does. But why is that function desired in the first place? Here's why for myself, and frankly I can't think of any other reason why one would need lot management. It's so you can instantly and accurately calculate capital gains, based on your specific share choices. Can the current Quicken 2018 do a capital gains report? As far as I can discern, NO IT CANNOT!!!! 

    I was trying to determine in the software how to do that. After combing through it for about five minutes, I gave up and went to the Quicken Help menu. Needless to say, it's very difficult to locate something in Help that may not exist ("capital gains" simply led me to the topic on how to enter capital gain DISTRIBUTIONS), but finally somewhere, I came across a list of reports, and then I spotted "Investment Reports". Under this topic, it said "This function is under development."  

    Can you believe that?? The main reason (the ONLY reason?) you would need a lot assignment function is not something currently addressed. So whether the software is useful for this purpose right now completely depends on when investment reports are set to become part of the software. You can do the specific share data entry now, which is useful if you don't need a CG report right this moment (but forget about current tax planning wrt capital gains). 

    I intend to find out from Quicken whether this report capability is imminent, and when I do, I'll update this comment, but for now, be forewarned.

    A word of caution regarding capital gains and losses reported by Quicken 2018.

    The cost basis of the lots sold will be incorrect when either of the following occurs.
    1. A return of capital dividend is received and reinvested in the security.
    2. A return of capital dividend is received and additional shares of the security are purchased on the same day.
    The primary issue Quicken's calculation of adjustments to the cost basis is the inclusion of all shares held on the day that the return of capital dividend was received in the calculation.  A return of capital dividend only affects the cost basis of shares held when the dividend was declared.  It does not affect the cost basis of shares purchased with the return of capital dividend or additional shares purchased after the dividend was declared.

    I discovered this a year ago when I sold my holdings in a mutual fund the invested in oil and gas MLPs to harvest capital losses.  The calculation problem impacts both the Windows and Mac variants of Quicken.

    If either of the above conditions apply to you, the work around is to split any reinvest transaction used to purchase additional shares into a Return of Capital transaction and a Buy transaction.  Adjust the date of the Return of Capital transaction so that it occurs the day before the Buy transaction.

    The OFX Specification doesn't really address the issue with return of capital dividends.  It would require adding another date field to indicate the effective date of the dividend.
  • smayer97smayer97 SuperUser ✭✭✭✭✭
    edited August 2018
    This feature was implemented in QM2018 v5.1 released Oct 2, 2017.

    If there are problems/bugs with the implementation, it is best to create a new PROBLEM thread identifying any issues.

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)

    If you find this reply helpful, please be sure to click "Like", so others will know, thanks.

    (Canadian  user since '92, STILL using QM2007)

    Have Questions? Check out these FAQs:
  • Lyn BuddenhagenLyn Buddenhagen Member ✭✭
    edited September 2018
    I did not buy QM2018 and do not wish to. I expect lot management to be an update to QM2017. The advertising for QM2017 was very deceptive in glossing over all the things that were NOT included - primarily lot management and investment returns calculations. This private company said that they were working to parity with Windows Quicken. Anyone with me? 
  • jacobsjacobs SuperUser ✭✭✭✭✭
    edited May 2018
    Lyn, I understand your frustration, but I think you mis-characterize the company’s statements about working to achieve feature parity between Mac and Windows versions of Quicken. The company has always released new versions which add new features annually, and always for a fee. Only in rare instances does a new feature get added to a prior year version of the software; usually the prior year versions get security and bug fixes for their three year life until they become discontinued. Just as Quicken 2017 users have some features that Quicken 2016 users do not, Quicken 2018 users have some features that Quicken 2017 users do not. You can protest this if you wish; I’m just pointing out that this is the way Quicken has worked for many years, and that it’s unlikely they will make significant feature changes to Quicken 2017 at this point. (The shift they made to continuous subscriptions rather than annual new product releases aims to make these issues go away, since subscribers will always get new features as they are released, rather than having users on multiple versions of software with different features. Of course, there's a higher cost, but that gets off the topic you raised.)

    In terms of feature parity with the Windows version, that does remain the company's stated goal. But what none of us knows is how long it will take to get there. It's been two years since they stated that goal, and my guess is that it will take another two years to get in the vicinity. (Some old Quicken 2007 for Mac and Quicken Windows features will likely never get implemented because they were used by a very small percentage of users.) 


    As for Quicken’s marketing, you are somewhat right in saying they didn’t highlight what’s missing from the Mac version. (There are many additional things beyond lot management which remain missing from the Mac version; different features are important to different users.) While much of that information is available to users who find this forum and scour it, of course most buyers don’t discover those things until after they buy and start working with the program. But they did have a web page showing features present and missing; the current version of that page is viewable here, but last year’s version did show that explicit lot assignment was a feature which didn’t exist that users could vote on if they wanted it; you can view the 2017 version of that page in the Internet Archive by clicking here; scroll down to the section "Vote on what we should add next." So at least technically, they did have information which showed that this and other features didn't yet existing in Quicken 2017.
    QMac 2007 & QMac Subscription • Quicken user since 1993
  • M C CrockettM C Crockett Member ✭✭
    edited May 2018
    jacobs said:

    Lyn, I understand your frustration, but I think you mis-characterize the company’s statements about working to achieve feature parity between Mac and Windows versions of Quicken. The company has always released new versions which add new features annually, and always for a fee. Only in rare instances does a new feature get added to a prior year version of the software; usually the prior year versions get security and bug fixes for their three year life until they become discontinued. Just as Quicken 2017 users have some features that Quicken 2016 users do not, Quicken 2018 users have some features that Quicken 2017 users do not. You can protest this if you wish; I’m just pointing out that this is the way Quicken has worked for many years, and that it’s unlikely they will make significant feature changes to Quicken 2017 at this point. (The shift they made to continuous subscriptions rather than annual new product releases aims to make these issues go away, since subscribers will always get new features as they are released, rather than having users on multiple versions of software with different features. Of course, there's a higher cost, but that gets off the topic you raised.)

    In terms of feature parity with the Windows version, that does remain the company's stated goal. But what none of us knows is how long it will take to get there. It's been two years since they stated that goal, and my guess is that it will take another two years to get in the vicinity. (Some old Quicken 2007 for Mac and Quicken Windows features will likely never get implemented because they were used by a very small percentage of users.) 


    As for Quicken’s marketing, you are somewhat right in saying they didn’t highlight what’s missing from the Mac version. (There are many additional things beyond lot management which remain missing from the Mac version; different features are important to different users.) While much of that information is available to users who find this forum and scour it, of course most buyers don’t discover those things until after they buy and start working with the program. But they did have a web page showing features present and missing; the current version of that page is viewable here, but last year’s version did show that explicit lot assignment was a feature which didn’t exist that users could vote on if they wanted it; you can view the 2017 version of that page in the Internet Archive by clicking here; scroll down to the section "Vote on what we should add next." So at least technically, they did have information which showed that this and other features didn't yet existing in Quicken 2017.

    As usual you have done an outstanding job of explaining Quicken's approach to updating or adding features to it's Quicken product.

    You provided a link to a comparison of the features between the Quicken 2007 and the current Quicken products for Mac and Windows.  There is one checked item in the list that isn't actually supported in the current Mac variant of the product.

    Track investment cost basis and capital gains

    As there is no support for corporate acquisition (merger) or corporate divestiture (spin off/split off) in the Mac version; therefore, its impossible to track the cost basis of your holdings if either of these events occurred.
    When a merger occurs, the Mac user must add an Add Shares transaction for the acquiring company for each lot of the acquired company and calculate the new cost basis for the new shares.  After this step is completed, the user must add a Remove Shares transaction to remove all shares of the company that no longer exists.
    This manual process defeats the purpose in purchasing software that should be able to perform the functions needed.
    The only reason that I still use both Mac and Windows variants of Quicken is because I have frequent corporate acquisition and divestiture transactions.  I record the transactions in the Windows variant and import that database into the Mac variant.
    Support for the transactions were promised over three years ago but haven't been implemented!
  • urbanianurbanian Member
    edited October 2018

    I had faced the same issue with Mac. This is a really irritating issue. I have just taken advice from Gmail Error 007. You may contact them for Quicken issue. They will help you out. 

    SPAM!
  • BruceGBruceG Member
    edited October 2018

    I had faced the same issue with Mac. This is a really irritating issue. I have just taken advice from Gmail Error 007. You may contact them for Quicken issue. They will help you out. 

    The latest version of Quicken for Mac has Lot features.
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