I'm reporting to CRA one consolidated line for all gains/losses for securities in the TDW C$ sub-account, another line for TDW US$, and I'm trying to make my life simpler by matching each of those lines with reports from Quicken. Excluding certain securities from the reports is feasible, but tedious and error prone. I can store ("memorize") reports in Quicken, maybe that's a partial solution.IdOp wrote:OTOH, if you can edit what's reported to CRA at the final step, all you need to do is set the costbase of the sold shares equal to the proceeds of disposition by hand "on the tax form", with no kludge needed in Quicken.
a) I was using return of capital transactions to adjust the cost base; one positive ROC before the superficial loss to ensure the loss is neutralized, and a matching negative ROC after the superficial loss to restore the cash balance and cost base. My problem is that Q 2011 has decided that negative ROC is not allowed; this has previously been available in recent versions of Quicken, I'm not sure when it was discontinued or if there is a tweak to re-enable it in Q2011.IdOp wrote:Next, if permissible, the amount of the loss can be added to the "costbase of the substitute property" at "some point", so ...
a) Does Quicken support costbase adjustment? (Probably not or you wouldn't be asking about this. )
b) If not, you could do a purchase of, say, 1 unit, for a cost equal to the amount of the loss. This would get the costabase right, but you'd have too many units; so then just consolidate back to the right number of units and things should be in order.
The beauty of the matching positive+negative ROC transactions was that it solved both issues at once: the report of annual capital gains per account and the proper cost base thereafter. My additional complication is that sometimes I have quite a few superficial losses in the same security, (buys / sells on a daily or weekly basis), so I can't just take the cost base per share before the first superficial loss and reset it to the same value after the whole series has ended.
I've thought about using a variant of (b) by adding a variable number of shares to the account at $1 cost base before the transactions, and remove the same number of shares at $1 cost base after the transactions. Shouldn't this do the same trick as the matching +/- ROC's?
Thanks for trying to help.