How do I record a mutual fund "exchange"?

Norm17

For example, Vanguard Mid-Cap (VIMSX) with a share class of " Investor" to Vanguard Mid-Cap (VIMAX) with a share class of "Admiral". The cost basis stays the same, but the number of shares change. There is no gain or loss on the exchange.

Jim_Harman

Is your account set up as a "Single Mutual Fund" account? You will see this setting in the Account Details. Conversions are not allowed in SMF accounts because they can only hold one fund.

jr7107

If the Fund is in a brokerage type account (not a SMF as @Jim_Harman noted), and the cost basis is going to be the same, I think a Corporate Acquisition transaction should get you there if you know the number of additional shares you will be receiving. 

Always back up the file before any type of these transactions to make sure it goes as designed.

NotACPA

Which Q product are you running?  What BUILD of Q (do HELP, About Quicken for this info).

Because "Mutual Fund Exchange" is an investment transaction in the higher level Q products.

Jim_Harman

Vanguard Investor to Admiral conversion is a Share Class Conversion in Quicken. Click on Enter Transactions and pick Mutual Fund Conversion.

This is different from what Vanguard calls an "exchange" where you sell one mutual fund and buy another.

Norm17

Jim,
I have Quicken Premier 2018 Version. The drop down menu for Transactions does not include Mutual Fund Conversion.
Any help you can provide would b appreciated.
Norm

Jim_Harman

Is your account set up as a "Single Mutual Fund" account? You will see this setting in the Account Details. Conversions are not allowed in SMF accounts because they can only hold one fund.

jr7107

If the Fund is in a brokerage type account (not a SMF as @Jim_Harman noted), and the cost basis is going to be the same, I think a Corporate Acquisition transaction should get you there if you know the number of additional shares you will be receiving. 

Always back up the file before any type of these transactions to make sure it goes as designed.

Norm17

I figured out that this can be done for a SMF as follows:
1. Change the mutual fund Symbol to the new Symbol – when changing the Symbol (on 2nd screen) check “Merge Quotes …”
2. Use the Stock Split transaction
3. Update the portfolio