QM 2018 Share Class Exchange

Chris Anderson

Quicken for Mac 2018 doesn't have a way to properly handle mutual fund share class exchanges.  The transactions are automatically downloaded as "Removes" and "Adds" which messes up the cost basis.  Does Quicken plan to include a feature to handle share class exchanges in a future update?

John_in_NC

Yes, and when I asked the QWin side people, I don't think even that platform has a decent way to handle it.

When I ran into this, I simply removed the downloaded "add share" transactions and made respective "Buy" shares for each lot to get the cost basis correct. And then I did a cash adjustment to offset the buys. Whether or not this is the best way to do to, I cannot say. But, there was no tax implications in this account, so I wasn't too worried. Basis/cash/share balance was all correct without placeholders.

Chris Anderson

John in NC said:

Yes, and when I asked the QWin side people, I don't think even that platform has a decent way to handle it.

When I ran into this, I simply removed the downloaded "add share" transactions and made respective "Buy" shares for each lot to get the cost basis correct. And then I did a cash adjustment to offset the buys. Whether or not this is the best way to do to, I cannot say. But, there was no tax implications in this account, so I wasn't too worried. Basis/cash/share balance was all correct without placeholders.

John, thanks for the reply.  In order for your method to work, don't you need to know "Buy" price?  Unfortunately, when I look at the transactions on the brokerage site, there is not a price just share class exchange transactions.

Unknown

I'm am not familiar with mutual fund share class exchanges but if the amount of add shares equals the amount of the removes, you could simple change the name of the mutual fund and remove the Adds and Removes transaction entries.

John_in_NC

John in NC said:

Yes, and when I asked the QWin side people, I don't think even that platform has a decent way to handle it.

When I ran into this, I simply removed the downloaded "add share" transactions and made respective "Buy" shares for each lot to get the cost basis correct. And then I did a cash adjustment to offset the buys. Whether or not this is the best way to do to, I cannot say. But, there was no tax implications in this account, so I wasn't too worried. Basis/cash/share balance was all correct without placeholders.

Yes, and you might have to dig a little bit deeper at your brokerage site. Hopefully they will show all the new/old lot info. That is the only way you will figure this out.