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QWin 2017: Cost Basis when a mutual fund is replaced with another

c armbre

I had the same problem with Quicken Premier 2017. The only way I could get the correct cost basis after the conversion was to use the Corporate Acquisition approach.Note: This conversation was created from a reply on: Cost Basis when a mutual fund is replaced with another.

ORIGINAL POST (by member Bicker; from Aug. 2012):

I am trying to work out several instances where one mutual fund was replaced with another in a brokerage account. My understanding is that such a change shouldn't change the cost basis. I tried entering these as Corporate Name Change transactions, but that still seems to set the cost basis of the new fund at the market value as of the date of the change, instead of reflecting the original cost basis for each lot of the original mutual fund. Please help me figure out what I'm supposed to do. Thanks!

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mshiggins

What do you mean by replaced? Did the fund go through a class conversion or did you rebalance the account taking money out of one fund and putting it into another fund?

c armbre

Vabnguard invester shares were converted to admiral shares.

unknown

In your Vanguard investment register in Quicken:

1 Select Enter Transactions

2 Select Mutual Fund Conversion from the drop down action box

3 Fill in the info.

4 Done. Quicken will retain your original cost basis.

c armbre

Thanks. I did that and somehow ended up with a cost basis that was about half of my original cost basis. When I re-did the transaction as a corporate merger, I ended up with the correct cost basis. Again, thank you.

unknown

In your Vanguard investment register in Quicken:

1 Select Enter Transactions

2 Select Mutual Fund Conversion from the drop down action box

3 Fill in the info.

4 Done. Quicken will retain your original cost basis.

The Mutual Fund Conversion option is not available if you originally setup your brokerage account as a Single Mutual only account.
To get around this -
1) Edit the brokerage account
2) Change "Single Mutual Fund Account" from Yes to No.
3) Go back to "Enter Transactions" and now "Mutual Fund Conversion" is available.