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Specific Lots/Shares at Sale Problem

Hey All..........I'm running Quicken Premier 2008, R9 on Win7.

For some reason I'm having trouble with some of my mutual fund accounts and not being able to select specific lots/shares when I'm entering a sale. The Specific Lots button is grayed out. This isn't true for all of my mutual fund accounts, but I'm seeing it on a few.

At the same time, on the Overview page for the account, the Holdings window will only display the total gains, losses, basis for the entire set of security shares held, and doesn't expand to indicate that information on a per lot basis. Needless to say, this is proving to be a total headache since I like to specify my lots for sales.

Like I said, I have other accounts where I'm able to select specific lots without problems, bit I've also got more than a couple accounts where I'm having this problem, and it's driving me nuts!

There are a lot of smart cookies on this list so I'm sure someone else has encountered this. How can I get these accounts to allow me to view and select specific lots???? Any help would be much appreciated.

Thanks.......Mike

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Reply to
Sportryder
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Sportryder had written this in response to

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: Oh ya, I forgot to mention. This is happening even in accounts when I've not ever had a sale! How come Quicken is treating these accounts as an "average" cost basis acct? In fact I have no idea how to designate the acct between specific or average ??? ........ Mike

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Reply to
Sportryder

Edit the Security Details for the Mutual Fund and uncheck "Use Average Cost".

-----Original Message----- From: Sportryder [mailto:gayguynmd-groups_at_yahoo_dot snipped-for-privacy@foo.com] Posted At: Friday, February 19, 2010 3:59 PM Posted To: alt.comp.software.financial.quicken Conversation: Specific Lots/Shares at Sale Problem Subject: Re: Specific Lots/Shares at Sale Problem

Sportryder had written this in response to

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: Oh ya, I forgot to mention. This is happening even in accounts when I've not ever had a sale! How come Quicken is treating these accounts as an "average" cost basis acct? In fact I have no idea how to designate the acct between specific or average ??? ........ Mike

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Reply to
Oilcan

Just watch out - the IRS does not let you change between Average & Lot if used once in the past.

Reply to
Zaidy036

Sportryder had written this in response to

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: Hey all.......thanks.

Yep, I found the designation box on the Security edit view. Now I remember I had to do that before with some of my other securities.

I THINK that when Quicken automatically sets up a new security it by default designates "average" cost basis. This to me seems weird that cost basis would be decided on the security level and not the account level, e.g. two accounts (say taxable and IRA) with the same security. Hmm, maybe I'd like to treat the two accts differently???

And yes, thanks Zaidy, consistency is key when it comes to the IRS. Fully understand and appreciate.

M

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Reply to
Sportryder

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wbertram

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