Nuveen Share Exchange.

Henry Theloosen

On March 31 Nuveen transferred/exchanged my shares in Nuveen S&P Buy/Write for shares in Nuveen S&P 500 Dynamic Overw. How do I handle this in Quicken?

Thanks for your help.

Jon

It looks like the former fund was merged into the latter (which has been around for some time already). In that case I would use Remove Shares and Add Shares transactions to replace your BXMX shares with SPXX shares. Add a comment in the memo field of each transaction to explain why that happened.

Henry Theloosen

What happens to the cost base of the original BXMX purchases?? Will that transfer??

Thanks for your help.

jacobs

What happens to the cost base of the original BXMX purchases?? Will that transfer??

If you do Remove Shares and Add Shares as @Jon suggested, the original cost basis will not be automatically carried over. If you have a modest number of purchases of the original security, you could do multiple Add Shares transactions — one for each of your original purchases and reinvestments, with each one denoting the original Date Acquired; this will carry your historical cost basis forward to the new security.

If you have a lot of transactions, that may not be practical. But I have an idea how you could accomplish this:

• Create a new, offline, dummy brokerage account in Quicken
• In your exiting brokerage account, enter a Transfer Shares transaction, where you transfer just the BXMX security to the dummy account. (This will create the Remove Shares transactions in your actual brokerage account, and Add Shares transactions in the dummy brokerage account — one for each original purchase date of BXMX share. Those transactions will be dated on the date you're entering this security swap, but each one will have the Date Acquired of the original shares, preserving your historical basis.)
• In the dummy account, Select All transactions, and drag to your regular brokerage account.
• Delete the now-empty dummy account.