Mutual Fund Conversion - cost basis error

roneyg

Easily found a discussion from 2019 that was closed.

https://community.quicken.com/discussion/7858412/mutual-fund-conversion-erroneous-cost-basis

I just want to point out that the error is still occurring, although not consistently.

I finished converting 4 Vanguard admiral funds to ETFs. Two completed flawlessly down to the penny. The final two had the same error as in 2019 - Each of the dividend reinvestments (around $100/quarter) were assigned a cost equal to the total cost basis of the entire fund. I had to manually go in and replace the total cost for each transactions on those 2 conversions.

Jim_Harman

The setting that triggers the erroneous cost basis is "Use average cost".

You should delete the Removed and Added transactions for the affected securities, then go the the old security's Security Detail page, click on Edit Details, and un-check "Use average cost". Then you can repeat the Mutual Fund Conversion and the cost basis should be correct.

I wish Quicken would fix this.