Cost basis missing after transfer to new acct

Posted by jo on April 25, 2009, 10:43 pm

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I had this happen once before long ago and there was no solution
except to manually enter the lost cost basis of every holding. It
looks like the problem still exists. With the exception of pure stock
holdings (I think that is the only category that worked), the cost
basis for every bond, preferred, unit trust, etc is zeroed out after a
transfer of holdings from one brokerage acct to another. I think it
should work between different firms, but this is even more
straightforward: it's the same brokerage firm but a different office
and acct #. Since the cost basis is clearly held by quicken in the
sending acct, I don't understand why it doesn't transfer with the
asset. Any ideas on why it fails and any simple work around other
than manual entry?

Using Quicken Home and Business 2008.

jo

Posted by John Pollard on April 26, 2009, 10:06 am

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jo wrote:

> I had this happen once before long ago and there was no solution

> except to manually enter the lost cost basis of every holding. It

> looks like the problem still exists. With the exception of pure stock

> holdings (I think that is the only category that worked), the cost

> basis for every bond, preferred, unit trust, etc is zeroed out after a

> transfer of holdings from one brokerage acct to another. I think it

> should work between different firms, but this is even more

> straightforward: it's the same brokerage firm but a different office

> and acct #. Since the cost basis is clearly held by quicken in the

> sending acct, I don't understand why it doesn't transfer with the

> asset. Any ideas on why it fails and any simple work around other

> than manual entry?

> Using Quicken Home and Business 2008.

What method did you use to transfer the securities?

How are you determining that the cost basis is zero?

--

John Pollard

Posted by jo on April 26, 2009, 12:33 pm

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> jo wrote:

> > I had this happen once before long ago and there was no solution

> > except to manually enter the lost cost basis of every holding. =A0It

> > looks like the problem still exists. =A0With the exception of pure stoc=

> > holdings (I think that is the only category that worked), the cost

> > basis for every bond, preferred, unit trust, etc is zeroed out after a

> > transfer of holdings from one brokerage acct to another. I think it

> > should work between different firms, but this is even more

> > straightforward: it's the same brokerage firm but a different office

> > and acct #. =A0Since the cost basis is clearly held by quicken in the

> > sending acct, I don't understand why it doesn't transfer with the

> > asset. =A0Any ideas on why it fails and any simple work around other

> > than manual entry?

> > Using Quicken Home and Business 2008.

> What method did you use to transfer the securities?

> How are you determining that the cost basis is zero?

> --

> John Pollard

I used the Shares Transferred between Accounts option in the
Investments section, first specifying all assets, and then today, as a
test, I repeated it with a single asset (a bond). It results in a
Remove transaction in the sending account and an Add- shares
transaction in the receiving account. I look at my Portfolio and for
any kind of asset except stock, the cost basis colum is 0. I can also
run the canned Portfolio Value and Cost Basis report and see the same
0 value cost basis.

jo

Posted by John Pollard on April 26, 2009, 2:08 pm

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jo wrote:

>> jo wrote:

>>> I had this happen once before long ago and there was no solution

>>> except to manually enter the lost cost basis of every holding. It

>>> looks like the problem still exists. With the exception of pure

>>> stock holdings (I think that is the only category that worked), the

>>> cost basis for every bond, preferred, unit trust, etc is zeroed out

>>> after a transfer of holdings from one brokerage acct to another. I

>>> think it should work between different firms, but this is even more

>>> straightforward: it's the same brokerage firm but a different office

>>> and acct #. Since the cost basis is clearly held by quicken in the

>>> sending acct, I don't understand why it doesn't transfer with the

>>> asset. Any ideas on why it fails and any simple work around other

>>> than manual entry?

>>> Using Quicken Home and Business 2008.

>> What method did you use to transfer the securities?

>> How are you determining that the cost basis is zero?

> I used the Shares Transferred between Accounts option in the

> Investments section, first specifying all assets, and then today, as a

> test, I repeated it with a single asset (a bond). It results in a

> Remove transaction in the sending account and an Add- shares

> transaction in the receiving account. I look at my Portfolio and for

> any kind of asset except stock, the cost basis colum is 0. I can also

> run the canned Portfolio Value and Cost Basis report and see the same

> 0 value cost basis.

What do you see for Total Cost when you Edit the Add Shares transasction
the new account?

I tested this (using a "Bond" type security) in Q2008 Premier and Q2009
RPM, and I don't see any problem.

--

John Pollard

Posted by jo on April 26, 2009, 8:57 pm

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> jo wrote:

> >> jo wrote:

> >>> I had this happen once before long ago and there was no solution

> >>> except to manually enter the lost cost basis of every holding. It

> >>> looks like the problem still exists. With the exception of pure

> >>> stock holdings (I think that is the only category that worked), the

> >>> cost basis for every bond, preferred, unit trust, etc is zeroed out

> >>> after a transfer of holdings from one brokerage acct to another. I

> >>> think it should work between different firms, but this is even more

> >>> straightforward: it's the same brokerage firm but a different office

> >>> and acct #. Since the cost basis is clearly held by quicken in the

> >>> sending acct, I don't understand why it doesn't transfer with the

> >>> asset. Any ideas on why it fails and any simple work around other

> >>> than manual entry?

> >>> Using Quicken Home and Business 2008.

> >> What method did you use to transfer the securities?

> >> How are you determining that the cost basis is zero?

> > I used the Shares Transferred between Accounts option in the

> > Investments section, first specifying all assets, and then today, as a

> > test, I repeated it with a single asset (a bond). =A0It results in a

> > Remove transaction in the sending account and an Add- shares

> > transaction in the receiving account. =A0I look at my Portfolio and for

> > any kind of asset except stock, the cost basis colum is 0. =A0I can als=

> > run the canned Portfolio Value and Cost Basis report and see the same

> > 0 value cost basis.

> What do you see for Total Cost when you Edit the Add Shares transasction

> the new account?

> I tested this (using a "Bond" type security) in Q2008 Premier and Q2009

> RPM, and I don't see any problem.

> --

> John Pollard- Hide quoted text -

> - Show quoted text -

Interesting. You mean when you go to Portfolio and look at the asset
after the transfer, it has a cost basis in the new account? My Add
transaction has 0 Total Cost and that's because there is a 0 in the
Price Paid field.
( except for stocks, which have the correct info in all fields), so I
guess we have to ask why there is no Price Paid being transferred.
Can't imagine why there should be a distinction in the way the
different asset classes are treated, or why a bond transfer works for
you but not for me.

jo