Provide ability to edit cost basis of Securities

jonh's Avatar

jonh

10 Sep, 2020 11:50 PM

On stock splits my brokerage sends the ofx data in a manner that MD does not handle well. I realize this is due to the brokerage, not MD.
If I use the stock split menu it messes up my cost basis.

Please consider adding the functionality to manually edit the cost basis and total shares to the stock split function. Currently if I choose stock split it is handled as expected, but as soon as I download the ofx file it screws up the data. If I delete the downloaded info then it gets downloaded again later on. And if I download the ofx instead of executing the split function then the cost basis and historical prices are wrong.

Users have offered suggestions but none of the actually resolve this issue as for as I can tell. Adding ability to edit these numbers would be more useful than the current situation.

  1. 1 Posted by dtd on 11 Sep, 2020 12:11 AM

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    Have you tried using the stock split function, then (NOT DELETING) setting the ofx data download to zero, vs it handling the stock split for you?

    That's what I tried.

    Just a user... just a suggestion.

  2. 2 Posted by jonh on 11 Sep, 2020 12:47 AM

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    I saw what you wrote earlier this week. I'd have to go back and review. I think I didn't try that method because I did not want to re-enter a bunch of transactions that had occurred between 31st and the time you posted your solution. It would be a real pain restore back to 30th and re-enter a bunch of transactions just to fix the cost basis issue.

    I feel this is something that IK can implement within their software if they were given a valid reason to do it. And if they did do that I could fix my existing (and several other long existing) cost basis errors.

  3. 3 Posted by dtd on 11 Sep, 2020 12:56 AM

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    I'm in agreement that making the cost basis editable would be a good idea. However, I expect it would be way down the list of "things to do" given especially they are trying to get out their stable 2020 release. I have two definitive bugs on tap that I've reported and have had acknowledged that I doubt will be fixed anytime soon.

    So.... best punt scenario... since you read the thread, you know I have no idea about the cost basis issues and asked for a report back from someone who was concerned about it.

    That said - and you know I asked myself, so this is not a lay upon... it does appear, at least for me, that Schwab just throws shares at you for a split, and cost basis doesn't enter into it. It "works" but it is not the best solution. (don't know your bank)

    The stock split built in bit by MD at least works - it subdivides the stock and the cost basis correctly, best I can tell.

    So best of a not good situation - I zeroed out the Schwab stuff (so it wouldn't redownload had I deleted it), and bought into the stock split. (don't know your bank)

    Worked for me - especially since I didn't have to explore cost basis carefully in a Roth IRA.

    Good luck on sussing it all out.

  4. 4 Posted by dtd on 11 Sep, 2020 12:58 AM

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    Oh - and I expect you wouldn't have to go back to an August 30 backup.

    I'd MAKE a backup, of the current day, then go and zero out the downloaded split transactions. It's a weird play party, you can go back to todays unchanged backup, but you can try things out - but not go back to August 30 and redownload everything.

  5. 5 Posted by jonh on 11 Sep, 2020 01:24 AM

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    LIke you said. The cost basis still isn't right. Sure, it's in a Roth & who cares? I just want it to be right, that's all. Someone, somewhere will have a taxable account that need to be right.

    Before ofx files, the stock split function worked just fine. We had to do it all by hand. But now, with ofx in the mix, it's a new game. I've seen this with other shares, not just this last Apple split. But the numbers were so small and I was too busy to care back then.

    I don't see a reason to fiddle with your method if the cost basis doesn't get fixed, and if I read right, it didn't get fixed. All it would do would fix the historical quotes.

  6. 6 Posted by dtd on 11 Sep, 2020 01:30 AM

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    I have no idea if what I did got cost basis fixed. Maybe it was you, maybe it was someone else, who said they would give it a try and report back if it worked. I haven't heard back.

    I'm sure your suggestion will be recorded, but I'm not sure if it will be given a very high priority. Many suggestions, including yours, would be useful. Take care.

  7. 7 Posted by dwg on 11 Sep, 2020 07:13 AM

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    Cost basis is a calculated value not a fixed value, also Average cost vs Lot matching come into the prices you see as well as the transaction history.

    That being said the only problem I have seen with Stock splits is the maths involved can leave fractional shares, something that companies expect and advise the approach they use to round these off. I have suggest that Moneydance needs Add & Remove share function in order to deal with these fractional amounts to make the number of shares an whole number.

  8. System closed this discussion on 11 Dec, 2020 07:20 AM.

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