Realised Capital gains not reporting correctly

Legacy KB ID: 4540

Question

Why doesn’t the Capital Gains Report provide the correct gains figure in Accounts Personal Range (previously Quicken)?

Answer

Transfer shares to a new brokerage account

 

The Issue

You are likely to experience an error with the Capital Gains with shares where there has been:

·         more than one Return of Capital transaction, and

·         one previous sale. 

Accounts Personal Range is not calculating the correct Cost Basis of the shares sold. 

 

You can avoid the problem by transferring your shares to a new account

 

Detailed Instructions

  1. Create a new backup of your data file – do not overwrite existing backups;
  2. Create a new Brokerage account;
  3. Transfer shares to the new brokerage account:
    1. In the original Brokerage account, click on Enter Transaction and select Shares Transferred between Accounts;
    2. Nominate your new Brokerage account as the Transfer Account;
    3. On the Transfer line, select All Securities;
    4. Click on Enter/Done.

Your share balance is now transferred to the new Brokerage account

  1. Run the Capital Gains Report and see the correct amount calculated.

 

How did we do?

How do I get the Payroll report to work?

Importing Share Price Data into Reckon Accounts Personal range using the CSV (Comma Seperated Value) file format

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Gain/Loss figure in Capital Gains Report changes continuously
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