mutual Fund Conversion feature just kills my cost basis

stgd

Its a simple case: 2 mutual funds in the same quicken account have "merged" . because of slightly different valuations between the 2, i end up with slightly more shares of the new than the old. But answereing the questions in Mutual Fund Conversion Quicken grossly overstates cost basis. I need help, please. Am i doing something wrong? Thank You

stgd

I had to restore my back up because cost basis was so distorted. So Im starting over.

Tom Young

There's a known problem with the mutual fund conversion wizard if you have the fund set to average cost.  If you don't have the fund in any other Account in Quicken you should be able to use the Corporate Acquisition (stock for stock) wizard. 

This problem was reported some time ago: https://community.quicken.com/discussion/7861196/fix-mutual-fund-conversion-so-cost-basis-is-correct-if-holding-is-set-to-use-average-cost

stgd

Tom, Thanks for the tip. I unchecked average cost for the old fund, following the comment in the link. Then used Mutual Fund conversion. It seems to work. New cost basis looks OK. Too bad there is yet another glitch in Quicken