Problem with "Shares Transferred Between Accounts" and Crypto
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?
Answers
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Let's start some troubleshooting:
Go to the old account and click on Holdings. Set the "As of" date to one day before the transfer. Is the cost basis correct for each security you transferred?
If you click on the + sign next to each security name, it will show the tax lots from multiple purchases or reinvestments. Are there multiple tax lots? Are there details next to each lot? Are these correct, including the cost basis for each?
When you transferred the shares, did you transfer all the shares of each security?
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In order of your questions and following your instructions:
As of the date prior to the transfer, the Cost Basis is correct for all shares. There are multiple tax lots. Yes there are details next to each and the cost basis is correct across all lots. When I transfer them, I transfer all shares of all the lots.
I appreciate your help.
Brad
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That is odd.
Are there transactions in the old account after the date of the transfer for the shares you transferred? That causes problems. There was an earlier discussion on that topic here
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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,
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Sorry, I linked the wrong discussion. Here is the correct one:
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.
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