How to record an Exchange of ETF's

jjrichards
jjrichards Member ✭✭✭
in Download, Add/Update Accounts (Mac)

I am running Quicken Classic for Mac and in my brokerage account I had an exchange from the Putnam Health Sciences to Franklin CA Municipal Income ETF. The download from my brokerage account was not correct.

Quicken does not have an " Exchange " transaction . What is the best way to input the transaction on both Putnam & Franklin ?

Answers

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    This doesn't sound like an "exchange". It sounds like a sell of Putnam and a buy of Franklin.

    Why do you believe otherwise?

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • jjrichards
    jjrichards Member ✭✭✭

    Thank you for your reply. On my Morgan Stanley transactions it was recorded as an exchange . In researching on line , for Quicken they mention to record sell Putnam & buy Franklin .

  • John_in_NC
    John_in_NC Quicken Mac Subscription SuperUser, Mac Beta Beta

    Hi, again, Jeff:

    What does "the download from my brokerage was wrong" mean?

    You can do either Sell Shares/Buy Shares or Remove Shares/Add Shares transactions depending on which is more correct for this situation. If you see a $ amount associated with the transactions on the MS website, use the Type: Sell/Buy. If not $, use Type: Add/Remove Shares.

    If you go the Sell/Buy route, the cost basis for "CA Municipal Income ETF." will now be your Buy price. If you use the Add Shares, you can manually enter the cost basic into the Add Shares transaction if needed.

  • jjrichards
    jjrichards Member ✭✭✭

    Hi John:

    To respond to your question The brokerage download was " sell bonds " and the amount was per 1,000 showing only 27.09609 in lieu of correct amount 2,709.609 for Putnam.

    I will use the Sell and buy transaction to record the " exchange " from Putnam to Franklin CA Municipal income with correct number of shares .

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