TSP Common Fund and Asset Class

exlin2
exlin2 Member ✭✭
edited February 27 in Investing (Mac)

I know this has been discussed but what is posted does not seem to be working now.

I have tried to describe my Thrift Savings Plan Common Fund as follows:

Type: Mutual Fund

Asset Class: Large Cap Stocks

However, on the Dashboard for TSP Common Fund, it is still is described as"Cash" and the Asset Cash is Cash.

While not all necessary, it would be nice to get Quicken to correctly identify my TSP Common Fund for asset allocation purposes.

Thanks

Comments

  • jacobs
    jacobs SuperUser, Mac Beta Beta

    In Portfolio view, does your TSP account show that you own shares of a security called TSP Common Fund, or does it show as Cash?

    Quicken Mac Subscription • Quicken user since 1993
  • exlin2
    exlin2 Member ✭✭

    Thank you for the follow-up. In Portfolio view, my TSP Common Fund shows cash.

    From the top menu, Windows|Securities shows:

  • jacobs
    jacobs SuperUser, Mac Beta Beta

    So if I understand correctly, you have an account called TSP (or something along those lines). In that account, in the Portfolio, it shows your only holding is Cash. You have a security called TSP Common fund, which is defined as a large-cap stock mutual fund, but Quicken doesn't show you holding any shares of that security — and that's what's wrong. I don't know if you download your transactions for this account or enter them manually, but in either case, the conversion of cash into shares hasn't happened in Quicken. You need to create one or more Buy transactions to use up the cash an establish the shares you own of TSP Common Fund. Depending how long you've owned shares in this fund, and how often there have been transactions (adding more shares, reinvested dividends and capital gains), you can enter each such past transaction so Quicken will calculate your CostBasis correctly/

    But if you've been acquiring this fund in many transactions over the years, you likely will not want to try to re-create all the history of the purchases and reinvestments. So another approach would be to do a single "Add Shares" transaction as of a prior date, such as 12/31/2023. Add shares does what the name implies: allows you to create a holding of shares in the TSP Common Fund out of thin air. But now your holdings will be counted twice — in the mutual fund's value and in the cash in the account — so you'll have to make the cash go away. Depending what transactions already exist, this could be as easy as adjusting the opening balance to zero, or it might require a transaction of Type=Payment/Deposit to move the cash out, using the Category of Adjustment. Adjustment is a special Quicken category which makes money appear or disappear out thin air. So you'd be making the Cash disappear and making the shares in the TSP Common Fund security appear.

    Now your Portfolio should show the TSP Common Fund having all the market value, and no Cash. And your Dashboard will now correctly show the value of this holding as large caps stocks instead of cash.

    Going forward, you'll want to make sure any transactions are done using the TSP Common Fund for reinvested dividends and capital gains and additional purchases. If you're downloading these transactions and they are somehow coming in as cash, you'll need to add Reinvest or Buy transactions to use up the cash and convert the cash into the appropriate number of additional shares.

    Quicken Mac Subscription • Quicken user since 1993
  • exlin2
    exlin2 Member ✭✭

    Thanks again for your kind assistance.

    The federal Thrift Savings Plan is like a 401(k). The Common Fund follows the S&P 500. There is not yet a working connection between Quicken and the TSP, but it appears that they are trying to make a connection. But, following your approach, I was able to add an adjustment showing the cash value of my TSP holding and then buying 1 share of the TSP Common Fund at the cash value of the holding. That works. Thank you.

  • S.Schwab
    S.Schwab Member

    Hello! I see by reading old comments that this has been an issue syncing TSP into Quickbooks for well over a year now. Why is it taking so long to sign contract and get this functioning?

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭

    Did you mean to type "….this has been an issue syncing TSP into Quicken…" instead of "….into Quickbooks…"? This is a Quicken Community forum. If you really did mean to post about Quickbooks, you should post in their forum at https://quickbooks.intuit.com/learn-support/us-quickbooks-community/misc/03/community-us .

    (Quicken Classic Premier Subscription: R55.15 on Windows 11)

This discussion has been closed.