Vanguard showing wrong information following conversion from Mutual Fund Acct to Brokerage Acct

denmarfl

Vanguard converted all Mutual Funds investments to Broker Accts. To do this, Mutual accts were closed, New Broker accts were Created. This activity for me all took place thru Q Connections.

Dollar amts of Investments are correct. However, looking at HOLDING...the COST BASIS and GAIN/LOSS colunms is Holding are reversed in new broker Registers. The Cost Basis colunm shows the Gain/Loss; the Gain/Loss shows the Amt actually invested.

This information is a Mirror of what Vanvuard Q server is downloading into my Q Register. To me it is an issue that needs to be investigated by Q and vanguard to determine why these HOLDING Columns figures are now reversed.

Have others noticed this? By chnace anyone contact vanGuard or Q about it...and if so, responses/Actions?

All I could get from Q was to Deactivate/Reactivate Vanguard accts which I did thinking even before I did that it would not make a difference, and, of course it did not. Rebuilding Investments didn't correct it either....

Sure, I can go thru life knowing the 2 columns are reversed....but why not get them right if it is paoosible to do so....and it seems to me that would start with Vanguard and Q investigating the root cause, and, correcting it at the source...vanguard.

Jim_Harman

The easiest way to correct this in Quicken would be to delete the Added and Removed transactions that were downloaded then go to the old account and enter a Shares transferred between accounts to move the shares in Quicken.

Back up yur data file first in case something goes wrong or you do not like the result.

denmarfl

Your past responses to issues with Investments have been appreciated and clearly demonstrated your in-depth knowledge of Q and Investments. Like you wrote, backup before you...etc.

The thought of going thru all those steps...I have multipile individual Investments within the broker acct...and something very possibly going wrong...just does not fell good.

I may wait to see if Q and vanguard can get their heads around this issue and push out a fix. By the way, not to get personal, did you have Vanguard accts that went thru this Mutual to Broker conversion? And if so, do you also see these 2 Columns reversed?

Jim_Harman

I doubt anything can be fixed by Vanguard or Quicken after the transactions have been downloaded and you have accepted them in Quicken, assuming you want to preserve your tax lots and cost basis.

Deleting the downloaded transactions should not take long unless you have dozens of different funds. Executing the Shares transferred is just one step because there is a "Transfer all" option. It takes a while if you have a lot of seurities and/or tax lots, but you just get to watch while it works.

Yes, I have Vanguard accounts that went through this process a couple of years ago. I used the method I describe above because the downloaded transactions did not preserve the tax lots and cost basis.

HelenT

Thanks a bunch. Worked perfectly and then I pulled up the accounts list, clicked edit for each of the transferred accounts with zero balances, clicked "Display Options" tab, and selected "Keep this account separate-account will be excluded from Quicken reports and features." This way I can still see all of the individual detail transactions in the record but only when I need to find them since it moves the accounts "below the line."