Someplace, I cannot recall where, I saw something that stated that Quicken Premier can calculate the stuff for Schedule D using both the actual cost and average cost methods to aid in selecting which is better for tax purposes.
How is this done?
I only see references to actual cost in the Help.
Average cost is only available for mutual funds. Is your investment identified as a mutual fund? If not, you can only use the specific share method.
Ira Smilovitz
Thanx.
All the investments are mutual funds. Do not know if they are identified as such. All the transactions, except for 1 day, were automatically downloaded from Fidelity, so I ASSuME that they are correctly identified. How can I tell how the investment is identified?
I could not find any reference to "average cost" in the Help.
Does it matter whether the funds are in a non-taxable account? The cost basis does not really matter in a non-taxable account, but that's all I've got to work with, for now, in the trial version.
Hi, Ira.
Did LIFO and FIFO get eliminated since I retired? Or have I misunderstood the question - or your answer?
RC
I suspect you misunderstood one or the other. FIFO is still the default method for determining the cost basis on a sale. You can also choose to specify which shares were sold provided you follow the rules about getting confirmation of your instructions from the broker. However, you can't choose to use an average cost basis unless you are selling a mutual fund. As far as I know, these rules haven't changed in many years, maybe never.
Ira Smilovitz
Hi, Ira.
430 No such article 222 16354 body Hi, Ira.BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.