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How to record partial exchange of one mutual fund to another

Windows 10 Home edition
Windows Version 2004(OS Build 19041.450)
Quicken 2020. Version 28.28. Build 27.1.28.28

How do I record a partial exchange of mutual funds. I partially converted some of my Vanguard mutual fund to an etf of the same type. ie S&P 500 fund to s&p500 ETF. When I tried to do the exchange, it assumes all the fund is exchanged. How doI record a partial exchange. For example let me say I had $20000 in S&P500 mutual fund. I exchanged $10000 of that to the ETF.How do I record this.

Thanks
Ram

Answers

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    In Q,  AND according to the IRS, there's no such thing as an "exchange of funds".
    What you did was to sell some shares of fund A and use the money to buy Fund B.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    Or maybe use Corp. Acquisition to move the shares?
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    a) I don't know that a switch from a MF to an ETF constitutes an applicable like kind exchange.  Consult your tax and investment advisers. 
    b)  If a conversion is applicable, the Quicken Mutual Fund Conversion does as you noted convert all shares of the MF in the account.  But you do not need to stop there.  After the conversion, you can edit the Remove Shares transaction cutting back and specifying the correct shares that you converted.  Follow that up be deleting any Add Shares for the ETF holding to similarly reflect the converted shares.  There will be one Add Share for each lot of the MF previously held.  Each of those Add Shares will reflect the date acquired and cost basis of the original MF shares. 
    Be careful and review the cost basis information of those added shares to make sure they are right.    
  • ramsundar
    ramsundar Member ✭✭
    > @NotACPA said:
    > In Q,  AND according to the IRS, there's no such thing as an "exchange of funds".What you did was to sell some shares of fund A and use the money to buy Fund B.

    In my vanguard account there NO sell/buy. It is recorded as an adjustment. Since it is the same categoty (S&P 500 fund to S%&P 500 ETF) it was done. When I talked to the personal at vanguard they assured me that it will not be a sell/buy and I will not incur any capital gains/loss.
  • Mark1104
    Mark1104 Member ✭✭✭✭
    simply do a 'remove' for the number of shares 'sold' and an 'add' for the number of shares 'bought'
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