Investment Share Conversion

kellno

I am converting Vanguard Investment Shares to Admiral Shares using the latest version of Quicken for Mac. When performing a "Remove Shares" for the Investor Shares, Quicken assigns them a value of $1.00. How can I remove the shares without giving them a value or selling them? I am able to add the Admiral Shares without assigning them a value. There is no "Share Conversion" option, as in the Windows version.

kellno

I wish to add that the comments within the "Remove Shares" transaction window states "Remove Shares: Used to remove shares of this security from the account without affecting the cash balance." This suggests to me that the transaction shouldn't have any cash value. ??

lhossus

Where are you seeing a value of $1.00 assigned? Please provide a screenshot.

If you look at the Amount and Balance columns in the register for the Remove Shares transaction:
- is the Amount of the transaction not $0.00?
- Does the Balance value change as the result of the Remove Shares?

volvogirl

I have Windows so this may not apply to Mac.  And my notes are old so there might be a newer or better way.

This is what I did....
To switch to Vanguard Admiral (I have several) you should use Corporate Acquisition (or the new Mutual Fund Conversion) and you have to manually calculate how many new shares you got for each ONE old share. Took me 3 times to notice that part.  So you may have to do some dividing on paper first. Don't worry if the price per share comes out fractionally different. Just be sure the # of shares and cost is accurate. Most of my conversions to Admiral were for all the same # of shares.  So I just changed the name and symbol.  One fund was so close I just did an adjustment and removed .176 shares.  I had 536.743 shares before and they converted in only 536.567 shares.

If you have it set up as a Single Mutual Fund (SMF) you need to edit the account and change it to No.