Quicken Community is moving to Single Sign On! Starting 1/22/21, you'll sign in to the community with your Quicken ID. For more information: http://bit.ly/CommunitySSO

How to convert shares in a mutual fund

Unknown
Unknown Member
edited May 2018 in Investing (Windows)
I converted regular Vanguard mutual funds to Admiral Vanguard mutual funds. I didn't find a way to do this so as a work around I entered a sold transaction for all the regular shares and then a buy transaction for the new Admiral shares. Is there a better way to do this?

Comments

  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    edited March 2017
    I haven't done mine yet but I think we are suppose to do a Corporate Acquisition for it.  They didn't actually sell and buy them.
  • neil154
    neil154 Member ✭✭✭✭
    edited August 2016
    You did this correctly because that is actually what happened.  I believe if you see your Vanguard statement it will show that way and also there are IRS implications if the account is taxable.
  • Howard Roark
    Howard Roark Member ✭✭✭✭
    edited August 2016
    neil154 said:

    You did this correctly because that is actually what happened.  I believe if you see your Vanguard statement it will show that way and also there are IRS implications if the account is taxable.

    I believe the recent Vanguard optional upgrade to Admiral shares is non-taxable; I used a Corporate Acquisition for it.
  • neil154
    neil154 Member ✭✭✭✭
    edited August 2016
    neil154 said:

    You did this correctly because that is actually what happened.  I believe if you see your Vanguard statement it will show that way and also there are IRS implications if the account is taxable.

    I guess Vanguard (and IRS) is the final authority on the tax implications.  If they just transferred shares from 1 place to another then it would not be taxable but if they sold share and bought shares then they are taxable events.  Since the difference between the Admiral and regular shares is usually just the fee structure it s possible that they just transferred things on the books.
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    edited May 2018
    Pote02 asked: "Is there a bettter way to do this?"

    https://qlc.intuit.com/post/show_full/amOoRCnGir3OW4acmYYUkY?
    aka: FAQ: Convert Share Class for Mutual Fund
  • Unknown
    Unknown Member
    edited July 2016
    Definately Corporate Acq. otherwise you risk losing your gain/loss/hold period records.  Early on I think Quicken <2003 didn't have the C. A. option available and I found it a nightmare trying to sort it all out using the sell then buy approach.
This discussion has been closed.