How does Q2002 Deluxe Calculate Cap Gain for "Alerts"?

[TomYoung]

Hi all:

About a half year ago I "upgraded" my Q2002 to Q2002 Deluxe. Recently,
when I start up Quicken, I'm getting an "Alert" that reads "Capital
Loss: You have a capital loss of -XXXX for the year."

Only thing is, I can't for the life of me figure out how Quicken
calculated the amount of loss. It's certainly not the same figure that
Reports > Investing > Capital Gains comes up with, and no combination
of numbers that I've tried comes back to the "-XXXX" amount the "Alert"
shows. I've "hidden" and "unhidden" accounts, included and excluded
accounts (e.g., retirement) and *No* combination of numbers results in
the same number - or even one close to the number - that "Alerts"
shows.

I'll probably just write this off as yet another Quicken "feature" that
doesn't work, but I thought I'd ask if someone knows the logic behind
the "Alert" calculation.

TIA.

Tom Young

 

[John Pollard]

Hi all:

About a half year ago I "upgraded" my Q2002 to Q2002 Deluxe.
Recently,

Probably around November 15, when this alert is scheduled to
begin displaying when applicable.

when I start up Quicken, I'm getting an "Alert" that
reads "Capital Loss: You have a capital loss of -XXXX for the
year."

I have Q2002 Deluxe for Windows too; my alert would read:

"Capital Loss: You *may* have a capital loss of -xxxx for the
year."

Only thing is, I can't for the life of me figure out how
Quicken
calculated the amount of loss.

In the alter itself, the second "capital loss" phrase is a link;
click it to see what figures were used to calculate the
potential loss.

It's certainly not the same
figure that Reports > Investing > Capital Gains comes up with,
and no combination of numbers that I've tried comes back to
the
"-XXXX" amount the "Alert" shows. I've "hidden" and
"unhidden"
accounts, included and excluded accounts (e.g., retirement)
and
*No* combination of numbers results in the same number - or
even one close to the number - that "Alerts" shows.

I'll probably just write this off as yet another Quicken
"feature" that doesn't work, but I thought I'd ask if someone
knows the logic behind the "Alert" calculation.

If the alert is not meaningful for you, you can turn it off

Finances > Setup Alerts > Taxes > (uncheck) Reduce Capital Loss

 

[John Pollard]

In the alter

should read, "In the alert"

 

[John Pollard]

John Pollard wrote:

In the alter itself, the second "capital loss" phrase is a
link;
click it to see what figures were used to calculate the
potential loss.

I discovered one other piece of information which I am not
certain how to explain.

My possible capital loss (in my test data file) was very very
close to that reported on the Capital Gains report except for
one sale. The only transactions for the security were a Buy
transaction on 11/01/04 and a Sell transaction on 11/15/04; the
resulting capital loss was excluded from the amount shown in the
alert. When I modfied the Buy transaction to occur on 01/01/04,
the resulting loss was included in the alert amount.

Perhaps Quicken is excluding gains/losses which could fall under
the wash sale rule ... just guessing.

 

[TomYoung]

Probably around November 15, when this alert is scheduled to
begin displaying when applicable.


I have Q2002 Deluxe for Windows too; my alert would read:

"Capital Loss: You *may* have a capital loss of -xxxx for the
year."

Yep, left out the "may."

In the alter itself, the second "capital loss" phrase is a link;
click it to see what figures were used to calculate the
potential loss.

There's no detail there beyond a summary number (with cents displayed)
of long-term loss.

If the alert is not meaningful for you, you can turn it off

Finances > Setup Alerts > Taxes > (uncheck) Reduce Capital Loss

I proabably will deep six this one.

 

[TomYoung]

John Pollard wrote:



I discovered one other piece of information which I am not
certain how to explain.

My possible capital loss (in my test data file) was very very
close to that reported on the Capital Gains report except for
one sale. The only transactions for the security were a Buy
transaction on 11/01/04 and a Sell transaction on 11/15/04; the
resulting capital loss was excluded from the amount shown in the
alert. When I modfied the Buy transaction to occur on 01/01/04,
the resulting loss was included in the alert amount.

Perhaps Quicken is excluding gains/losses which could fall under
the wash sale rule ... just guessing.

I have both long-term capital losses and a short term loss, though the
sell date was 11/5 so it wouldn't be held out as a wash sale.