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titleTips for tracking cost basis for mutual funds:

By default, Quicken tracks the cost basis for stocks according to the lots you purchased. The IRS allows cost basis for some mutual funds to be tracked on an average cost basis. Use this only to track mutual funds. Contact your tax advisor if you're uncertain whether a given security is eligible to be tracked using the average cost.

If you change from lot ID to average cost, Quicken discards the lot information. Back up your Quicken data file before doing thithis.

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titleAbout the Estimated Average Cost dialog

In the As of field, Quicken displays the date of your placeholder entry for this security:

  • If you added this account by downloading transactions and holdings information from your financial institution, this is your first download date.
  • If you added this account by manually entering holdings information from a brokerage statement, then this is the statement ending date.

In the Holdings area of the dialog Quicken displays the following:

  • Total shares you own: This is the number of shares you own(ed) on the As of date.
    • If you added this account by downloading holdings information from your financial institution, then this number is from your brokerage's online records.
    • If you added this account by manually entering holdings information, then this is what you owned on the ending date of the statement you used to add the account.
  • Shares from transactions: These are the shares accounted for by any historical transactions you entered or downloaded prior to the As of date.
  • Shares in Placeholder Entry: This is the number of shares a placeholder entry represents. Whenever the shares entered in historical transactions don't equal the total number of shares you own, Quicken prompts you to enter a Placeholder or enters it for you. These are the shares that don't have historical cost basis information.


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