# Questrade average price and ACB



## joncnca (Jul 12, 2009)

i recently started a margin/cash account at questrade and never took notice before of the 'average price' column in IQweb. does this basically keep track of ACB for you? does it account for trading fees (buying)? i imagine you'd have to keep track of expense to sell when you're calculating for capital gains tax? anyone have any idea?

thanks


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## KaeJS (Sep 28, 2010)

It keeps tracks of your ACB for the shares only.

It does not account for any costs/expense.


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## KaeJS (Sep 28, 2010)

In thinking back to this...

I don't mean to be rude -

But don't you think you could have figured that out yourself faster than coming to CMF and posting about it?

It doesn't bother me you posted. Just some food for thought.


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## canucked_up (Feb 23, 2014)

KaeJS said:


> In thinking back to this...
> 
> I don't mean to be rude -
> 
> ...


Really?
You don't mean to be, but.....
It kind of bothers me that you replied with this. Food for thought indeed.


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## KaeJS (Sep 28, 2010)

Well, it's just that he would have saved himself some time if he just looked at the number in the column that he's asking about.

It doesn't bother me at all. I answered his question. CMF is here to help. Just would have been faster to look at the number on Questrade.


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## Jungle (Feb 17, 2010)

Actually questrade has been wrong in the past on cost price but they will adjust if you ask them. Recently they upgraded my questrade login and now all my cost prices have changed.. I don't know why they do this. I track separately so it's ok.


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## AltaRed (Jun 8, 2009)

Jungle said:


> Actually questrade has been wrong in the past on cost price but they will adjust if you ask them. Recently they upgraded my questrade login and now all my cost prices have changed.. I don't know why they do this. I track separately so it's ok.


Never, ever trust the broker* calculations of ACB. It may, or may not, include buying commissions and may, or more likely not, include Return of Capital that may occur for REITs and other trusts/corporations that issue T3 tax slips. Each investor is responsible for calculating and keeping ACB records of each investment in a taxable account.

*especially marginal operators like VB, Questrade, etc. They often cannot get T3/T5 tax slips correct.


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## Jungle (Feb 17, 2010)

Yes I was already reading on other forums about Questrade giving t3's without adjusting for ROC. I would assume other brokers due the same.


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## AltaRed (Jun 8, 2009)

Jungle said:


> Yes I was already reading on other forums about Questrade giving t3's without adjusting for ROC. I would assume other brokers due the same.


For what it is worth, I believe the source of T3 data comes from the originating trusts/corporations (REITs, ETFs, etc). If so, how a brokerage can translate that into erroneous tax slips kind of escapes me.


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## joncnca (Jul 12, 2009)

Thanks for everyone's thoughts. 

KaeJS, I've brought this issue up in forums before, but I think you're missing the point of the message board. I always look things up myself from reputable sources, but if I was just going to get the answer and be on my merry way, why would anyone bother posting anything? 

But Because I asked the question, it spawned the discussion that followed and some others have raised other interesting points that I didn't directly ask about but which are worthwhile to consider nonetheless.


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## humble_pie (Jun 7, 2009)

AltaRed said:


> For what it is worth, I believe the source of T3 data comes from the originating trusts/corporations (REITs, ETFs, etc). If so, how a brokerage can translate that into erroneous tax slips kind of escapes me.


all this is indeed true but one should remember that Returns of Capital, although they are standard figures provided by the originating trusts & corporations, nevertheless need to be further processed by each individual tax-paying investor. Normally, he is supposed to adjust his cost base down by the ROC amount.

brokers also attempt to track & display ACB figures, but we should keep in mind that brokers are doing this as a courtesy gesture only. They are not compensated for this service. Possibly for this reason, brokers can be pretty sloppy, here & there, with non-registered ACBs.

it could be that questrade's programmers just didn't get the ROC consequences right. I'm told theirs is fairly new mainframe system. Perhaps if several/many clients ask this broker to update the program, they will do so, although it's likely too late for this tax year.

in the meantime clients can individually track their own ACBs ... always the best way anyhow, just as altaRed says.


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