Same Symbol But Two CUSIP ID's - mutual fund conversion

allgoodnamestaken

My security list only includes one U.S Large-Cap with the correct CUSPID and one Growth & Income with the correct CUSPID. I really don't care too much about the basis as long as Quicken matches the T. Rowe statement. However, I believe everything is correct, Under Holdings Growth & Income goes back to 2004, In the transactions the U.S. Large-Cap shows it started on 3-5-2021 but the only transactions are the reinvestments at the end of 2021. I'm a little lost when you talk about share vs. basis:

When the U.S. Large-Cap Core fund acquired (took over) the G&I fund, you received more shares of the Large-Cap Core fund than you had shares of the G&I Fund.  If you had 100 shares of G&I with a basis of $5,000, that became 105.477 shares of Large-Cap Core also with a basis of $5,000.  So to be precise, a 1:1 trade (exchange) of G&I shares for Large-Cap Core shares is inaccurate; it messes up the cost basis per share.

If my shares and value are correct and Quicken matches my T. Rowe statement ( by adding G&I and U.S. Large-Cap) didn't the correct math occur? I fear we are going over my paygrade in terms of technical knowledge. 

q_lurker

If my shares and value are correct and Quicken matches my T. Rowe statement ( by adding G&I and U.S. Large-Cap) didn't the correct math occur? 

Let's say you had 1000 shares of G&I prior to March 8, 2021.  In the real world, that became (about) 1055 shares of Large-Cap Core.  Since then you received (bought) say 25 shares in reinvested dividends of Large-Cap Core.  

You now see in your Quicken records 1000 shares of G&I and 80 shares of Large-Cap Core for a 1080 total that matches what your brokerage shows, so you are satisfied.  

I trust how the 1000 shares of G&I entered your books.  I trust how the later 25 shares of Large-Cap Core were added later as reinvestments.  I don't know what happened that added in the 55 shares directly associated with the conversion.  What is the cost basis of those shares?  

As long as you are satisfied with matching share numbers and current value and are not concerned about cost basis of each share owned, you will be fine as follows:

• Mutual Fund Conversion - dated March 8, 2021
• Existing Fund - Growth & Income
• New Fund - U.S. Large-Cap Core
• Shares of New - equal to shares of Growth and Income
• Price per share of new fund - 31.39

That should turn your shares of G&I into the same number of shares of Large-Cap Core such that your total shares still add up right but are all in Large-Cap Core.  

     

allgoodnamestaken

When I do the conversion if something doesn't go right can I reverse the process? Will the name change to U.S. Large-Cap for all of the G&I back to 2004? 

Jim_Harman

Back up your data before doing the conversion so you can revert if you do not like the result.

q_lurker

allgoodnamestaken said:

When I do the conversion if something doesn't go right can I reverse the process? Will the name change to U.S. Large-Cap for all of the G&I back to 2004? 

The conversion will generate one Remove Shares and a series of Add Shares. Those transactions can be deleted to reverse the process. Or backup just before and a restore will reverse. 

The conversion will leave the G&I transactions in place. 

To offer another possibility since you are not too concerned about specific cost basis, 

• You could take note of the total cost basis and shares for the G&I shares on March 5, 2021
• Enter one Remove Shares for all those shares, and 
• Enter one Add Shares of Large-Cap Core with the same shares and total cost basis. 

That will show a simpler presentation of the event in your register with a similar overall result. Delete those two to reverse that process. 

allgoodnamestaken

once i do the remove and add and hopefully wind up with one fund in the account is it possible to now combine the other two funds that were set up as SMF into one account? So that the three funds that are under one account number in the T. Rowe will match in Quicken? No more SMF accounts. 

q_lurker

First, because this account does have the two funds recorded in it, the account is not actually a SMF account, at least as far as Quicken is concerned. 

But more to your point, my understanding is that T Rowe Price requires the one fund to one Quicken account setup, but I have nothing to confirm that understanding. Your only hope of consolidating to one account AND maintaining TRP downloads is if TRP supports that setup.