Glitch with mutual fund share conversion

Question

I'm using Quicken Classic Premier on a subscription. Years ago, I converted shares of a mutual fund to a lower-cost share class of that fund. Each class has a different ticker symbol. I used the Quicken share conversion tool, and it worked fine. The fund company recently converted the shares back to the old share class. I tried using the conversion tool again, but it produced an irrational result: it removed early lot purchases and randomly assigned later dates to them. There's no logic to it that I can see. I then entered all the conversions individually instead of using the tool. It produced the same result. I've spent 2 hours on the phone with Quicken Support about this. They looked at my screen and agreed there's a glitch, but so far, have not been able to fix it. Has anyone run into this? Is there a fix? Thank you!

DistressedParrot · Answer

I'm the poster of the referenced thread.  Have you tried down-grading to R67.10 to see if the issue persists?  You can download the R67.10 software from

https://www.quicken.com/support/reinstalling-and-patching-your-quicken-subscription-version-after-your-membership-has

, it will be the May 2026 version.

Cubbie · Answer

Thank you for your response. The lots I still own were purchased between 1998 and 2011. When I used the conversion tool within the register and then looked at the "investing" screen, it failed to show lots purchased from 2011 through 7/14/2003. The first lot purchase it showed was 7/24/2003. It also randomly assigned the missing purchases to other dates.

I then manually calculated the number of converted shares for each lot purchase that I hadn't yet sold. I went into the register and entered each one using the "Add-Shares Added" function. This is the same function Quicken used when adding shares during the conversion. For each entry, I filled in the "Date acquired" field with the actual date of purchase. This is how Quicken tracks capital gains when the shares are sold.

After doing this I went back to the Investing screen. Again, it skipped the same purchase dates.

I agree with your statement that you can't see how that would change the dates of the tax lots. I, too, can't see how it would do that. And so far, after two hours with Quicken Support, they can't figure it out either.

Between the first and second conversions there were no purchases or reinvested dividends/capital gains. There were three sales.

This mutual fund was never set to "Use average cost."

Thanks again!

Jim_Harman · Answer

I have not seen that issue reported, but there was a recent report of improper lots being assigned when a security was sold. See this discussion

https://community.quicken.com/discussion/7974927/tax-lot-disposition-bug-in-quicken-classic-windows-r68-25-and-r68-28

When you say you entered the conversions individually, what exactly did you do? I can't see how that would change the dates of the tax lots.

Were there purchases, sales, or reinvested dividends between the first and second conversions?

Was this a mutual fund that was set to "Use average cost"? There is a known bug with the share class conversion associated with that, but it affects the cost basis, not the lot dates.