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Quicken Classic for Mac
Investing (Mac)
Best way to handle CUSIP changes when no symbol change?
RCinNJ
For whatever reason, some of my securities have had CUSIP name changes without changing their Symbols. QM does an Add/Remove shares pair in the downloaded transactions in response to what is reported (in this case by Vanguard). Unfortunately, this resets the price history to this new date. In the past I've handled this by deleting the Add & Remove shares pair and adding a note using the "neutral" Payment/Deposit transaction as a place to make a note about the CUSIP change. Don't know I even need to track this, but I figure if there is a problem later from my deleting these downloaded transactions I'll have a record.
My question is whether there is a "proper" or "better" way to handle this? Thanks!
QM Deluxe Version 6.0.3
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MontanaKarl
It sounds like QMac is doing the right thing (add/remove)...as a CUSIP is the unique identifier for a security. If there is a new CUSIP, then it is a new security - even if the name is the same/similar - presumably a result of a merger/spin-off/etc.
Can you give us a list of the securities by name, ticker symbol and prior/new CUSIP so someone can check them out further?
RCinNJ
No, for investment purposes the security is identical. I would not/do not want to lose the purchase date(s) and prices with gains or losses tracked for the asset. Which is what happens if I accept the Add/Remove transactions. I'm sure there is some corporate reason to change the CUSIP but there is no change in the underlying asset. One example is LUMN on January 21st.
MontanaKarl
Yes, in the case of just a corporate re-name, I agree with you. For the record, the Add/Remove shares thing is not a Quicken thing. All transactions downloaded from any financial institution are created by / formatted by the institution. Quicken / Quicken Inc doesn't have anything to do with that. (I have a brokerage that downloads matured bonds as "Deposits" which drives me crazy - have to change each manually to a sale.... but that it the brokerage's fault.)
So, delete the Add/Remove shares transactions that got downloaded, but don't accept any new transactions related to LUMN until you rename CTL...
I just tested on a duplicate of my data file and you CAN change the name/symbol for any security... and potentially get nonsense results due to that, so there should be a warning (there isn't) ... but in the case of CTL renaming itself as LUMN, I believe that's what you should do...
In Portfolio view, select CenturyLink (e.g.), and click the Edit Security button in the pop-up. Type in Lumion ... and it will autosearch and display Lumion Technologies - it will only allow name changes to recognized securities. Selecting that, fills in the ticker as LUMN. Presumably, behind the scenes, the CUSIP is updated as well. Click Done.
You may need to click the update accounts button (or menu item from Accounts menu) to update quotes. But, your historical basis lots and cost bases will remain as they were, at least in my test of a 2 lot security that I renamed, and then renamed back to what it really was.
PS. I'm now confused about your original question, as the case of CTL becoming LUMN does not involve a CUSIP change without a name change... in that case, CenturyLink changed everything... I didn't think it was possible to have a new CUSIP but retain the old name and symbol? Do you have an example of that?
RCinNJ
The name had been changed to LUMN before my first purchase. If it was an actual symbol change I wouldn't have been surprised and would have dealt with it. However, it could be related. I just tracked another CUSIP change to small change in the name of a security (AIO) with no change in the symbol. QM didn't rename the security so it's not obvious.
My original question still stands. My deleting the transactions and making a note for my records using payment/deposit works to maintain the transaction history, but, "My question is whether there is a "proper" or "better" way to handle this?"
MontanaKarl
LOL. You're going to have to be a lot more detailed to get more specific help. If you bought LUMN and not CTL... then what exactly is the problem as far as how QMac is representing your holdings. You've got to show a specific problem to get any useful help here. I and other seasoned investors and are willing to help out - but you have to detail and show an actual issue with specifics.
Your original approach seems to be the only reasonable one. QMac does not otherwise track CUSIP changes other than behind the scenes. CUSIP is not visible anywhere in QMac that I'm aware of, report or otherwise. The one exception to that is the Schedule D section of the Tax Schedule report which displays the CUSIP for matured bonds rather than the name for some odd reason.
(CUSIP is not required by the IRS on income tax returns (ticker symbol is typical). As far as I know, only the federal estate tax return requires CUSIPs for all holdings at time of death.)
RCinNJ
Sorry you find my question laughable. I thought I was clear that my issue was losing gain/loss info and purchase dates on my holdings as tracked by QM. I also thought I was clear on what my solution was and that I was asking if anyone else had a better one. Apparently this is not an issue you've ever had with any of your holdings. I wasn't worried about tax reporting, etc. I wasn't looking for condescension. Just don't answer if you think a question is stupid.
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