Decide how to resolve placeholder entries


In order to get performance reporting and tax planning assistance, you should replace each placeholder entry with actual historical transactions.

  • For connected accounts
    When you add a connected account, Quicken downloads recent transactions from your financial institution. This usually represents only part of your entire transaction history. In order to account for the missing transactions, Quicken enters a placeholder entry to your account that makes up for the missing shares of each security. In a typical scenario, your transaction list thus has a placeholder entry entered on the date of your first download and multiple downloaded transactions entered with dates prior to your first download. It is rare that these transactions go all the way back to the date you opened the account.
  • For offline accounts
    When you add an account that is not connected to your, Quicken asks you how many shares you own of each security and then enters a placeholder entry to represent those holdings. Your transaction list thus has a single placeholder entry for each security, entered on the date of you added the account.

You can use the following methods to resolve a placeholder entry.

  • Don't resolve the Placeholder - I'll track my holdings only
    If you don't enter missing transactions, Quicken can't provide complete performance reporting or tax planning assistance.
    Advantages Disadvantages
    Easiest method. Quicken can still provide portfolio analysis and limited performance reporting. You can also download security fundamentals, news and alerts, and see how your investment portfolio contributes to your overall net worth.


    You can go back later and enter missing historical transactions.
    Quicken can't provide historical performance and help you plan for taxes. Quicken will mark some performance and tax calculations as estimates. Quicken will keep the placeholder entry in the investment transaction list.
  • Enter estimated average cost

    If you don't have access to your old statements, or don't want to enter historical transactions you can still get limited performance reporting and tax planning assistance. Just enter an estimated average cost for your Placeholder shares. (Tell me how)

    Advantages Disadvantages
    This is the easiest way to resolve a placeholder entry without entering all historical transactions. Use this for mutual funds, especially if you reinvest dividends or make frequent purchases (as when following a dollar cost averaging investment plan). Basically you are estimating the average cost. You can go back later and enter missing historical transactions. Because this doesn't capture the true average cost, Quicken will still mark some performance and tax calculations as estimates. Quicken will still keep the placeholder entry in the investment transaction list. (You can go back later and enter missing historical transactions.) Quicken can't provide historical performance and help you plan for taxes. You may have to wait a few months before your investment data is in the range where you can display useful investment performance reports. Even when they do, your investment performance reports will show data relative to when you started using Quicken, not based on your portfolio's true historical performance. You will be able to monitor your portfolio's fundamentals but not its historical performance. You will still be able to analyze your holdings and balance your asset allocation. You can also research investment opportunities. Cost basis and open lot data is incomplete, so that you can't create investment-related tax reports to help you prepare Schedule D tax information. Also, Quicken can't distinguish between short- and long-term gain capital gains, so you lose the benefit of using the Capital Gains Estimator.

 

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