Mutual Fund Conversion - Quicken - Please Fix It!

After using the Mutual Fund Conversion transaction,  the cost basis for EACH of the lots "Added" by the process for the new MF (over 40 of them) is the total cost for the entire security ($68,505), instead of the cost basis for that individual lot.  Every Added transaction, no matter how many shares has the same identical cost.  So it's giving me a total cost basis for this MF of several million dollars.   The number of shares are correct for each lot, however the share price is wacked because of the incorrect cost amount.   Both MFs (old and new) are set to use Average Cost.  Will need to go in and manually adjust the cost for each lot.  
Can't use the Corporate Acquisition because I still have the original class MF in other accounts.
Using the current version of Quicken/Home Business/Windows  2019 R18.15 
Quicken - Can you fix this?  Ever???  

Best Answer

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    sonomaron said:
    After using the Mutual Fund Conversion transaction,  the cost basis for EACH of the lots "Added" by the process for the new MF (over 40 of them) is the total cost for the entire security ($68,505), instead of the cost basis for that individual lot.  Every Added transaction, no matter how many shares has the same identical cost.  So it's giving me a total cost basis for this MF of several million dollars.   The number of shares are correct for each lot, however the share price is wacked because of the incorrect cost amount.   Both MFs (old and new) are set to use Average Cost.  Will need to go in and manually adjust the cost for each lot.  
    Can't use the Corporate Acquisition because I still have the original class MF in other accounts.
    Using the current version of Quicken/Home Business/Windows  2019 R18.15 
    Quicken - Can you fix this?  Ever???  
    You should be able to use Corporate Acquisition but you will need to delete the inappropriate Removed and Added transactions introduced into the other accounts.

Answers

  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    Accepted Answer
    sonomaron said:
    After using the Mutual Fund Conversion transaction,  the cost basis for EACH of the lots "Added" by the process for the new MF (over 40 of them) is the total cost for the entire security ($68,505), instead of the cost basis for that individual lot.  Every Added transaction, no matter how many shares has the same identical cost.  So it's giving me a total cost basis for this MF of several million dollars.   The number of shares are correct for each lot, however the share price is wacked because of the incorrect cost amount.   Both MFs (old and new) are set to use Average Cost.  Will need to go in and manually adjust the cost for each lot.  
    Can't use the Corporate Acquisition because I still have the original class MF in other accounts.
    Using the current version of Quicken/Home Business/Windows  2019 R18.15 
    Quicken - Can you fix this?  Ever???  
    You should be able to use Corporate Acquisition but you will need to delete the inappropriate Removed and Added transactions introduced into the other accounts.
  • sonomaron
    sonomaron Member ✭✭
    Thanks Sherlock, this helped.  Much easier to delete transactions than to key in a lot of figures.
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