Move mutual fund into its own separate account

System

This discussion was created from comments split from:

Problem selling an investment

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budi

I added a mutual fund as a holding in a cash management position. It has created problems so I would like to move the mutual fund out of that account, into a seperate account. There are only 3 transactions that relate to the mutual fund.

What is the best way to do this and are there things that I need to watch for in the process?

Thanks

Jim_Harman

Quicken investing accounts can generally hold multiple securities, so unless you are downloading transactions and your brokerage requires an account for each security, it is usually better to set up all the securities you hold in one account at the brokerage into one brokerage account in Quicken.

But if you really want to move this fund into its own account, you can go to the account where the security is now, click on Enter Transactions, and select Shares transferred between accounts.

This will enter one Removed transaction in the old account and an Added transaction in the new account for each tax lot of the security. It preserves the cost basis and acquisition dates of the security transferred. The original cash and any other transactions will remain in the old account.

When reporting on performance over a period that includes the transfer, include both the old and new accounts in the analysis.

q_lurker

Are you able to create an empty investment account? I’d then simply type in the three transactions in that new account and delete them from the cash management account. You might be able to copy and paste the transaction from the old to the new, but you can likely type them in as quickly as you can figure out the copy process.