A special thanks to Jim_Harmon for his post from 9/2019.
Recently Fidelity made a new-to-me change I had never seen in 38 years of using Quicken. My Fidelity statement back in August of this year ( I had to recover an old backup for another reason ) simply told me that they had merged two existing funds into a third new-to-me fund. All my statement gave me was the number of shares removed from the two old funds and the numbers added to the third fund, with no dollar amounts at all. No prices or dollar amounts at all. All I had to work with was the month-end total on the statement.
Fortunately, I logged into their website and found that there they at least reported the number of shares and total dollars.
My wife and I have two IRA accounts and three brokerage accounts, so the question I had is how do I record this and what are the ramifications of how I do this. What about my performance records and tax ramifications? A report on the two old funds in my Quicken came up with an alarming number of PAGES of transactions.
After lots of researching websites, I finally came across Jim's post from September 2019 where he explained how to do this with two solutions based on whether or not we have used Average Cost. I had never had to use anything like the Mutual Fund Conversion but I backed up my data and did the conversion in the first account, my IRA.
Ironically, all looked good in the IRA account where there were several pages of new transactions all calculated based on the two mergers - well, except for the detail that I had recorded the merger happening YESTERDAY, November 28 instead of the actual date of August 16.
Anyway, Jim, I thank you for your well-written post that I will follow for all of our Fidelity accounts.