Help with Investment Account - Keep Cost Basis and Performance

Hi to all. I have an investment account with one mutual fund in it. It has cost basis and market value over several years. The Fund Company decided to "upgrade" the mutual account moving the existing shares into the "I Class" version of the same fund. The statement says this is a nontaxable conversion. Is there a way to keep the existing mutual fund's cost basis with the "new" fund (different ticker)?

I've tried removing the shares, selling the shares, etc., but each time I add the new ticker it overrides all of the previous fund's performance. It starts the cost basis and market values anew.


  • Sherlock
    Sherlock SuperUser ✭✭✭✭✭
    edited March 2022
    I suggest you use the Mutual Fund Conversion wizard:  open the account, press Ctrl + N, select Mutual Fund Conversion in the Enter transaction: pull-down menu, ...

    If you're using single mutual fund account registers, you should have two registers.  Deactivate the Online Services of the register that held the original mutual fund, set the register to support multiple securities, perform the Mutual Fund Conversion, and move the generated Added transactions to the new register.
  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    Quicken has an action for this. Click the Enter Transactions button and scroll down the menu to Mutual Fund Conversion.
    Quicken user since version 2 for DOS, now using QWin Premier Subscription (US) on Win10 Pro.
  • roundaway
    roundaway Member
    First, add the new security to the Security List. Reconcile the investment account. Do a Quicken file backup. Reopen Quicken, and open the investment account. Select Edit Account Details and and change from single asset "yes" to "no". Hit CTRL-N and Mutual Fund Conversion. Make sure to exactly enter the shares moved. After selecting Enter it took several minutes to convert (add) 20-years of transactions to the register. When the conversion is done make sure the Removed Share total shares is exact. Then Update Transactions. In my case the fund company had one transaction for "buying" the new fund, but the register had the details needed, so delete the downloaded single "bought" entry. Lastly, I had to add a Adjust Shares Transaction to make it exactly match the statement. If there are errors then close Quicken and select the backup to start over.

    Thank you very much for the expert advice.
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