Conversion of mutual funds- how do I back out an incorrect conversion in Quicken and start over?

Unknown
Unknown Member
edited October 2018 in Investing (Windows)
I have 2 mutual funds [same company] merge into each other. The prices of the 2 funds were different on the merger day. I entered the info but want to now reverse the merger.How do I do this?   Also, am I using the correct item [Mutual Fund Conversion] in the transaction list?

Comments

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited October 2018
    The easiest way to reverse the action is by restoring from a backup taken shortly before your actions.

    And NO, "mutual fund conversion" isn't the correct action.  You want "Corporate Acquisition (stock for stock)".  The conversion, that you used, is for converting Retail shares of a fund to another class of the same fund.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited May 2018
    In principle, the MF Conversion would be the correct choice for your situation, presuming that the "merger" is considered tax-free.  Unfortunately the current (QW2014-2017) versions of Quicken seem to have an issue with the transactions generated by the conversion choice, making the Corporate Acquisition a better option.  You will need to separately compute the share ratio to use for the Corp Acquisition.  You may want to follow up that process by refining the calculated share quantities used in the generated Add Share transactions.  
  • Unknown
    Unknown Member
    edited October 2018
    My problem is that I have already merged the 2 funds. How do I unwind this action?
  • Bob_L
    Bob_L Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited January 2017
    joe wehrheim said:

    My problem is that I have already merged the 2 funds. How do I unwind this action?

    Either go to a backup, or manually remove the add shares and remove shares transactions that were previously created in the register. A quick way to do these removals is by running a banking transactions report filtered on the account involved. You can then multi- select the involved transactions, right click delete on that report.

    Quicken Business & Personal Subscription, Windows 11 Home

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited January 2017
    joe wehrheim said:

    My problem is that I have already merged the 2 funds. How do I unwind this action?

    Restoring from a backup created before you merged the funds will also "undo" that action.  And may be a lot simpler that "putting Humpty back together again".

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

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