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Quicken 2000 for Windows
Title Cannot transfer short position between investment accounts
KB ID#: 7311
Categories: Investments, Online Banking/Bill Payment
Question: Why can't I transfer short position between investment accounts?
 
Possible
Cause:

A negative value cannot be entered in the Number of Shares field in the Transfer Share window. Quicken will display the message "Enter a number between 0 and 9,999,999.99". Therefore, clicking Easy Action and then selecting Transfer Shares Between Accounts cannot be used to transfer a short position from one investment account to another.

 
Answer:

To resolve this issue:

  1. From the Quicken Investing menu, choose Portfolio View.
  2. Select All Accounts from the Group by drop-down list, and then select Holdings from the View drop-down list.
  3. Set the Portfolio As of field to the date of the transfer.
  4. Display the lot information for the short position by clicking the folder icon next to the security name.
  5. Make a note of the total number of Shares and Cost Basis for the short position. If you need to retain holding period information, you can print this information by choosing Print Summary from the Quicken File menu.
  6. Click the name of the original account, and then click Register.
  7. In the Register tab of the original account, enter a cover short (CvrShrt) transaction to close the short position.

    Note: If you enter the number of shares and total cost, the Quicken program will calculate the price per share.

  8. Click the drop-down list next to the account name and select the destination account.
  9. In the destination account register, enter a short sell (ShtSell) transaction to open the short position.

    Note: If you enter the shares and total cost, the Quicken program will calculate the price per share. If you need to retain holding period information, enter a separate ShtSell transaction for each lot using the information from the Portfolio View.

  10. Open the Portfolio View to confirm that the short position has been re-established in the destination account.
  11. From the Quicken Reports menu, choose Investing, and then choose Capital Gains Report.
  12. Review the Capital Gains report to confirm that the "transfer" did not have any net effect.


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