How do I sell lots of a security for tax-loss purposes? QPremier R40.21

corndog638
corndog638 Member ✭✭
edited June 2022 in Investing (Windows)
I sold five specific lots of a holding to harvest tax losses. How do I remove them from the register and account for the loss in value?

Best Answer

  • Sherlock
    Sherlock Member ✭✭✭✭
    Answer ✓
    I tried shortsale and a sold transaction in the account register for one lot amount and with price received and wasn't prompted to pick a specific or enter a purchase price. I checked "Preferences" and a box I'm not familiar with "Enable Simple Investing" is checked.
    Simple Investing only tracks positions.  Quicken will not be able to calculate capital gains or losses, or investment income.

Answers

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    How did you (have you) record this in Q?  Because any SELL action, with a sell price that's lower than the purchase price will achieve your objective.

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

  • splasher
    splasher SuperUser ✭✭✭✭✭
    When you enter the Sell transaction, you have the choice to specify lots in the selections at the right of the transaction in the register or in the transaction pop-up.

    -splasher using Q continuously since 1996
    - Subscription Quicken - Win11 and QW2013 - Win11
    -Questions? Check out the Quicken Windows FAQ list

  • corndog638
    corndog638 Member ✭✭
    I tried shortsale and a sold transaction in the account register for one lot amount and with price received and wasn't prompted to pick a specific or enter a purchase price. I checked "Preferences" and a box I'm not familiar with "Enable Simple Investing" is checked.
  • Sherlock
    Sherlock Member ✭✭✭✭
    Answer ✓
    I tried shortsale and a sold transaction in the account register for one lot amount and with price received and wasn't prompted to pick a specific or enter a purchase price. I checked "Preferences" and a box I'm not familiar with "Enable Simple Investing" is checked.
    Simple Investing only tracks positions.  Quicken will not be able to calculate capital gains or losses, or investment income.
  • corndog638
    corndog638 Member ✭✭
    OK, I backed up my file, unselected "Enable Simple Investing", and now a "specify lots" button appears. Problem solved; thanks for the clues.
This discussion has been closed.