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.