Initial cost basis information

Jan 09, 2006 1 Replies
L

I started Quicken this month, and find that Schwab does not make information available far enough back to cover the initial purchases of most of my mutual funds, never mind all of the dividend re-investment transactions.



What have other folks done in similar situations? Is entering all of the dividend-reinvestments over years the only way (haven't got all that info anyway, for some of them). Quicken creates a placeholder with the initial count of transactions and asks for a cost. How can I determine a cost for that one point in time?



This may be more of an accounting question than Quicken, but many people must have faced a similar problem.



TIA LAS



Vote
Twitter Facebook LinkedIn
O

I have stock and mutual funds that go back into the 1970's. I generally download as much as I can and manually enter the rest - depending on the account - recon at least to the end of each year. Some of the data I can't download as I have the Stock Certificates. It proves to be a challenge.

I have some accounts, where I did have the information that I know longer can recreate - I still have the statements, but there was not enought information on paper. (My computer crashes in 2003 and I did not have a good backup...I can recreate some of the data from backup - but still with gaps.)

If these are IRA Accounts I would not worry about this as much if it is a non-IRA Account as eventually you will need to determine your Cost Basis.

I am not certain if this helps, but good luck.

Vote
Twitter Facebook LinkedIn

Join the Discussion

Have something to add? Share your thoughts — no account required.

Didn't find your answer?

Ask the community — no account required