adjust cost basis

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317223 .
317223 . Member ✭✭
edited February 2022 in Investing (Windows)
correct and adjust cost basis

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  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
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    It would be helpful if you provided more details.

    Perhaps this post will help.
    https://community.quicken.com/discussion/7907400/can-i-change-the-cost-basis-of-a-mutual-fund-i-have-in-my-quicken-account
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  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
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    @317223 ., IF the cost basis as shown in Q differs from what your brokerage shows, there's a couple of possible reasons.
    1. If you've sold any amount of the security, did you select the same cost basis that the brokerage selected?  Unless you gave them explicit instructions with the sale, they almost certainly chose FIFO.  If you chose anything other than FIFO, your  basis will probably differ.
    2. IF your brokerage is Fidelity Investments, and this discussion is about a Retirement account, then Fido is inconsistent in the way that it handles reinvested dividends.  I have the stock of my former employer in both my taxable account and my IRA.  Reinvested dividends in the taxable account ADD to the cost basis ... reinvested dividends in the IRA don't add to the cost basis.
    I don't know if other brokerages do the same thing re: reinvested dividends ... but it's worth looking into.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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