Downloaded share conversion processed incorrectly
After a download from the financial institution that included a share class conversion, it did not appear to operate as expected. Rather than converting to the new fund, the shares were added to existing fund (TGCFX). New fund (TGCPX) was not created and the old fund was not deleted. Conversion was supposed to be from TGCFX to TGCPX. Is my thinking incorrect?
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I forgot to add that I am using Quicken for Windows - Premier, Version R51.12, Build 27.1.15.12 on a Windows 11 platform.
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You can't count on brokerages to download share class conversions correctly.
I suggest you back up your data file, then delete the Added transaction from 7/20/23.
Go to the Security Detail page for TGCFX and make sure the Use average cost option is not selected. This is to work around a bug in Quicken's Share Class Conversion.
Go the account where the conversion took place, click on Enter Transactions, and pick Mutual Fund Conversion. Enter the details of the conversion.
This should enter one Removed for all of your TGCFX and one Added for each tax lot of TGCPX you received. This will be a lot of Addeds if you have been reinvesting dividends. The cost basis should be preserved.
The next time you download transactions, be sure to accept them one at a time (not auto enter or Accept all). You should be presented with an option to match the downloaded transaction for TGCPX with the security in Quicken. Make you set this correctly.
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That fixed my problem! Thank you for you assistance.
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