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Swapping Shares from one fund to another, how to enter transaction

rmartel

Mutual C funds will revert to A Funds after a period, how do I enter that transaction? The downloaded transaction from the broker is sxch which results in a removed shares transaction and an added shares transaction. but the added shares have no cost.

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Comments

Jim_Harman

Generally the best way to handle this is to
-- back up your data file just in case
-- delete the downloaded transactions
-- click on Enter transactions and pick Mutual Fund Conversion, then enter the requested information.

This will enter one Removed transaction for all the shares in the old fund and one Added for each tax lot in the new fund, with the correct share counts, costs, and acquisition dates. This will take some time if you have a lot of tax lots, for example if you have reinvested dividends. Be patient!

Note that due to a bug in Quicken, the cost basis is calculated incorrectly if you have chosen "Use average cost" for the fund.

q_lurker

From an investment transactions list, Enter Transactions button, there is a Mutual Fund Conversion selection.

But since you cite these as occurring "after a period", that suggests only a few of the shares are being converted. If that is the case, the MF conversion may not be very helpful.

I suggest you simply edit the Add Shares transactions that are downloaded to add in the correct acquisition dates and cost information. In some cases it may be appropriate to use multiple Add Shares transactions rather than just the one that the brokerage downloads.

rmartel

Thank you