Update Portfolio

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Paul Gerardi
Paul Gerardi Member ✭✭
in Investing (Mac)
I have not been able to update my portfolio for some time, is there a way that I can do an adjustment rather than trying to go back & track & enter every transaction which would take a considerable amount of time. I would like to get my accounts up to date.

Thank you

Best Answer

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Answer ✓
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    Sure. You can create Add Shares or Remove Shares transactions for each security you hold, to make your current number of shares match your most recent statement or your online value from your brokerage.

    The only downside of doing this to be aware of is that Quicken will not be able to accurately calculate your gains/losses for tax purposes, since it doesn't know the real basis for your holdings. But if you use the 1099s from your brokerage for your taxes, and use Quicken to track your holdings, then this should be fine.
    Quicken Mac Subscription • Quicken user since 1993

Answers

  • jacobs
    jacobs SuperUser, Mac Beta Beta
    Answer ✓
    Options
    Sure. You can create Add Shares or Remove Shares transactions for each security you hold, to make your current number of shares match your most recent statement or your online value from your brokerage.

    The only downside of doing this to be aware of is that Quicken will not be able to accurately calculate your gains/losses for tax purposes, since it doesn't know the real basis for your holdings. But if you use the 1099s from your brokerage for your taxes, and use Quicken to track your holdings, then this should be fine.
    Quicken Mac Subscription • Quicken user since 1993
  • Paul Gerardi
    Paul Gerardi Member ✭✭
    Options
    Thanks so much, I’m more interested in having an up to date portfolio. I do use the 1099s plus I can use the data on my advisors site.
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
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    Hi @Paul Gerardi

    I agree with @jacobs' comment, given that you've decided not to pursue getting into the details.  However I would just caution that if you have holdings that you've had for some time (where the broker may not have reported basis information to the IRS) that you take care, when you dispose of such holdings, to review the information being provided on 1099 forms to ensure that such information is accurate before just accepting the information on the tax forms.

    Frankx

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