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How do I fix my - Mutual Fund Conversion error...

Ellary Kahan

I have invested in a 529 fund that is based on age. So when my granddaughter turned 3 the fund rolled all my assets over to the newer fund. I had entered this as a sold/bought transaction then realized that lost my cost basis.
So I edited the sold transaction to change it to a Mutual Fund Conversion. But I always get the error "No shares available for the acquired security". I even get this when I put a value of 1in the shares of new field.
How do I fix this?
Thanks.

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q_lurker

Ellary Kahan said:

... But the share amount was really messed up. I calculated the conversion factor as the shares in the new fund / shares in the old fund. So that must not be right. ...

Any way to fix this?

I do not believe the MF Conversion wants a conversion factor. I believe it prompts for the total number of shares of the new fund received. The program knows how many shares are being removed (converted). It will compute the conversion ratio.

Delete the generated transactions and redo the MF Conversion, if that is what you insist upon.

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Jim_Harman

It sounds like Quicken is telling you that on the conversion date you did not hold any shares of the old security.

Click on Holdings in the account and set the As of date to the conversion date and see if your holdings look correct.

If not, you may have hidden Placeholders that are affecting the balance. Go to Edit > Preferences > Investment transactions and make sure Show hidden transactions is selected.

But because this is a tax deferred account, the cost basis is not really relevant. So there should be no problem with your original Sold/Bought. If you want to track the performance of the account over s a period that includes the change of securities, just include both securities inn the analysis.

q_lurker

Ellary Kahan said:

...
So I edited the sold transaction to change it to a Mutual Fund Conversion. But I always get the error "No shares available for the acquired security". ...
Thanks.

There are cases where editing a transaction does not work correctly as a change to a transaction type. For your desired path to get away from the Sell / Buy pair, you may need to delete those transactions rather than edit them. After deleting them, you would then begin afresh with a MF Conversion.

But I am also with Jim that there is likely no drawback to leaving the transactions as Sell / Buy.

Ellary Kahan

So I deleted them and the mutual fund conversion worked generating a Removed transaction from the old fund and two added transactions for the new fund. But the share amount was really messed up. I calculated the conversion factor as the shares in the new fund / shares in the old fund. So that must not be right.
I tried my own removed and added transactions but since the share price of the added transaction was as of the date of the actual transaction it left the cost basis as what it was on that date, the same as the sold/bought transactions.
Any way to fix this?

Jim_Harman

Why not just Sold then Bought? The cost basis generally does not matter on a tax free account like a 529.

q_lurker

Ellary Kahan said:

... But the share amount was really messed up. I calculated the conversion factor as the shares in the new fund / shares in the old fund. So that must not be right. ...

Any way to fix this?

Ellary Kahan

Thanks. That worked.
The instructions are misleading as they state: "Shares in new Fund per held share - enter the number of new share class shares received for each original share class share. If you're unsure of the number to enter here, contact your mutual fund company or broker for the correct number to enter."

Jim_Harman

That's right, the Help that is displayed when you click on the question mark in the Conversion dailog is incorrect. When entering a Mutual Fund Conversion, you should follow the prompt which just says "Shares of new" and enter the total number of shares received, not the conversion ratio.