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Author: mto01 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 27818  
Subject: Re: Cost Basis and Fees (and Quicken) Date: 10/25/1999 2:40 PM
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Jenn,

Your responded:
I created an account called "stock fees" to catch all of the various fees that cannot be added to the cost basis. This way, when tax time rolls around I have them all separated out in the event that I can use a Schedule A.

Note: I'm using round numbers in the next example for ease...

If I enter a $20.00 'banking fee' (this would be a custom-made category under quicken) in my "Intel Drip" account, and a purchase of x.x shares at y.y price with z.z commission, do you know if Quicken is smart enough to not count the $20 fee in the Cost Basis? Will it count it in the performance analysis (ROI)?

For now all I did was create an intermediate cash account called "Cash for Investments". When I entered the check in my checking account, I just transferred the money into the "Cash for Investments" account while awaiting the statement from Temper. Once received I'll purchase shares in my "Intel Drip" and "Coke Drip" accounts using cash from the "Cash for Investments" account. If I add a $20 fee under the "Cash for Investments" account would my "Cash for Investments" account be similar enough to your "Stock Fees" account for tax purposes?

Any help/suggestions appreciated.
Matt O.
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