the cost basis problem
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From: Phil on 21 May 2010 10:20 On December 8, 2008 the Prudent Bear Fund symbol PSAFX was changed to Federated Prudent Dollar Bear A with the symbol PSAFX not changing. Quicken showed the entry as added shares with the memo"Mandatory CUSIP Change"with a total cost of 0. Consequently, my cost basis is way wrong for Federated Prudent Dollar Bear A. How do I correct, the cost basis? Phil
From: John Pollard on 21 May 2010 11:10
Phil wrote: > On December 8, 2008 the Prudent Bear Fund symbol PSAFX was changed to > Federated Prudent Dollar Bear A with the symbol PSAFX not changing. > Quicken showed the entry as added shares with the memo"Mandatory CUSIP > Change"with a total cost of 0. Consequently, my cost basis is way > wrong for Federated Prudent Dollar Bear A. How do I correct, the cost > basis? It doesn't sound like Quicken had much involvement in the process. Do you download to the Quicken account where the security is held? If there was no symbol change and there was no change in shares held, I'm not sure why any new Quicken transaction was necessary, other than possibly a Corporate Name change and a re-match to an online security (due to the CUSIP change); forced by editing the security in the Security List and unchecking the box "Matched to online security. But if the object was to replace an old security with a new one, that would usually entail one "Shares Removed" transaction for all old shares, plus one "Shares Added" transaction for each lot of the old security. That can usually be accomplished in Quicken with a "Corporate Acquisition" pseudo-transaction (which should be done before Accepting any downloaded transactions for the event). If your financial institution attempted to download transactions for the purpose, they possibly would not have had sufficient information to create all the necessary transactions correctly. In any event, the Quicken Corporate Acquisition should probably have taken precendence over anything downloaded. "Shares added" transactions contain a field for "Date acquired" (to allow for the fact that the shares may have been acquired on a different date then the shares-added transaction date); and a field for "Total Cost" (the "cost basis" for the added shares). Assuming your Shares Added transactions are otherwise correct, but are only missing "cost basis"; you can Edit them and enter the correct value for "Total Cost". -- John Pollard news://<YOUR-NNTP-NEWSERVER-HERE>/alt.comp.software.financial.quicken Your source of user-to-user Quicken help |