How do I change the cost basis on an investment?

When my parents died the basis on their stock received a "step-up" in basis as of their date of death.  How do I adjust Quicken to reflect this new basis?


I would create a new quicken investment account and then use the Add shares action to add the shares to the new account on the date of death with an appropriate Memo (Note:  don't use transfer shares).  Make the cost basis be the stepped up basis.   For date acquired, if you enter the date of death the classification of capital gains treatment going forward will be off if you sell in less than a year (Shares inherited get long term gain treatment regardless of the holding period).  Therefore put the "date acquired, required for calculating tax" to be a year before.

Use a removed shares action to remove the shares from the original account.
Was this answer helpful? Yes No
BOBL_2 , QW 2016 Premier, Windows 10
1 additional answer

No answers have been posted

More Actions

People come to Quicken Community for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach:

Do you still have a question?

Ask your question to the community. Most questions get a response in about a day.

Post your question to the community
or contact us