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investment account error

unknown

I'm trying to resolve an investment error. Companies combined & transferred my fund to a different fund. Resources in old fund were liquidated & applied to new fund. When I set it up made an error. Am trying to delete & retry. How do I do that? Get error when trying to delete "cannot delete because more than transaction made in that account. Using Q premier 2017

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unknown

I take from your desire to delete the account that you created a new account for these new securities. I'm not sure that was necessary just to realign your securities, but that's up to you. I believe Quicken tries to protect your tax status by not deleting accounts that have key transactions. Have you tried deleting existing transactions in that account and restarting the process?

unknown

Thanks for reply. I finally got the account deleted & am starting over. I think what I need to do, if I understand the instructions is to just open the account which I will be removing assets from & do a transfer & transfer it to the new account. I think I do it as cash & convert it to shares. I have the info as to # of shares, amount of funds in both accounts. Of course dollar amount is the same. Sound correct?

unknown

Thanks for reply. I finally got the account deleted & am starting over. I think what I need to do, if I understand the instructions is to just open the account which I will be removing assets from & do a transfer & transfer it to the new account. I think I do it as cash & convert it to shares. I have the info as to # of shares, amount of funds in both accounts. Of course dollar amount is the same. Sound correct?

If you received cash for the liquidation and then shares that were purchased using that cash, then yes, that's the way to do it.

However, if you had shares transferred to other shares than you need to do a Corporate Acquisition transaction...which involves more detailed math to figure out the share to share price and amount.

unknown

I have the statement of the transaction which shows the total shares in old fund & dollar amount. It also shows the new fund with the same dollar amount, shares and nav on the trade date. So is my approach correct. BTW, thanks for reply & help!

unknown

Magic 8-ball says: Outlook Good. Congratulations.

unknown

I have the statement of the transaction which shows the total shares in old fund & dollar amount. It also shows the new fund with the same dollar amount, shares and nav on the trade date. So is my approach correct. BTW, thanks for reply & help!

You didn't answer my question.

Did you actually get cash from the transaction? And was that cash used to purchase new shares of stock?

Or just a conversion of shares from one stock to the other?

It makes a difference regarding how your capital gain and cost basis is calculated.

unknown

I have the statement of the transaction which shows the total shares in old fund & dollar amount. It also shows the new fund with the same dollar amount, shares and nav on the trade date. So is my approach correct. BTW, thanks for reply & help!

How about a screenshot of your statement?

Redact your personal information from the screenshot.

unknown

I have the statement of the transaction which shows the total shares in old fund & dollar amount. It also shows the new fund with the same dollar amount, shares and nav on the trade date. So is my approach correct. BTW, thanks for reply & help!

No cash received - only shares in different fund which equaled dollar amount of those in old fund.

unknown

I have the statement of the transaction which shows the total shares in old fund & dollar amount. It also shows the new fund with the same dollar amount, shares and nav on the trade date. So is my approach correct. BTW, thanks for reply & help!

This should work then:

As always, backup your data file first...JUST in case.

q_lurker

I have the statement of the transaction which shows the total shares in old fund & dollar amount. It also shows the new fund with the same dollar amount, shares and nav on the trade date. So is my approach correct. BTW, thanks for reply & help!

I am going to suggest you investigate further. Just because you did not 'see' the cash does not mean this was not a sell and buy setup. If (for example) you had a Fidelity S&P 500 index fund and you converted that to a Vanguard S&P index fund, that would likely qualify for the Corporate Acquisition path gmalis1 has pointed you on. But if you went from a Fidelity Growth fund to a Vanguard growth fund, that type of exchange would need to be treated as selling the Fidelity shares and buying the Vanguard shares.

The key measure in this is possibly whether you brokerage services are showing a change in the cost basis from before to after this transition. If the cost basis is the same >> Corporate Acquisition. If the cost basis changed >> Sell, transfer cash, and buy.

Tom Young

"Companies combined & transferred my fund to a different fund.
Resources in old fund were liquidated & applied to new fund."

These is too vague to really tell you, precisely, what you need to do. What you are describing might be a taxable "sale" with the proceeds going to buy a new mutual fund, or it might be a non-taxable "stock for stock" event. (And, to confuse the issue even more, "stock for stock" events can be taxable events.)

Why don't you lay out, chapter and verse and with great detail, exactly what went on here? Knowing what kind of Account the transactions occurred in - after tax brokerage account or tax deferred account like an IRA - would also help shape the discussion. The word "liquidated" probably means "sold", which suggests the appropriate action is a "Sell" and then a "Buy", but but that's just a guess,