529 acct - exchanged funds

ps56k wrote: :: We have a 529 fund that we manually track in Quicken... :: :: Recently, we exchanged from the "managed" to the "index" funds. :: Just wondering how we should do the transaction in Quicken :: to account for the slight change in shares & price - to retain the :: overall ROI. :: :: old = 4869.153 shrs @ $9.76 :: new = 4243.119 shra @ $11.20 :: :: -- :: / _/ _/ _/ _/ _/ _/ _/ _/ _/ _/ _/ _/ _/ _/ _/ _/ _/ _/ _/ :: No Good Deed - :: Goes Unpunished

"Stock split" with the appropriate ratio and prices that the dialog panel asks you for? (old to new approximately 1.1475). I'm not an expert, but I don't see any other replies.

Hi, ps56k.

Record what happened.

If you sold and bought, record a sale and purchase, with the proceeds residing momentarily in that account's Cash Balance.

Sold = 4869.153 shares @ $9.76 = $47,522.93 Sales proceeds Bought = 4243.119 shares @ $11.20 = $47,522.93 Cost of new shares Change in cash balance = $0.00

If the fund manager actually exchanged the holdings, you should carefully read the documents. It might be a Corporate Acquisition (stock for stock), in Quicken-speak; in that case, use the Enter Transactions menu to record that the "new" fund acquired the old one by exchanging 4243.119 of its shares for 4869.153 shares of the "old" fund. No cash will be involved. And dollars are not important - except that you can enter $11.20 as the "Price per share of acquiring company" to establish the basis per share of the new fund.

While I've read about 529 plans for decades, I've never dealt with one. I retired about the time they appeared on the scene. But, as I recall, there is little need for most taxpayers to worry about the basis of assets held in such a plan. Be sure to check with your own CPA for the official rules.

RC

-- R. C. White, CPA San Marcos, TX (Retired. No longer licensed to practice public accounting.) snipped-for-privacy@grandecom.net Microsoft Windows MVP (2002-2010) (Using Quicken Deluxe 2011 R 8 and Windows Live Mail in Win7 x64)

We have a 529 fund that we manually track in Quicken...

Recently, we exchanged from the "managed" to the "index" funds. Just wondering how we should do the transaction in Quicken to account for the slight change in shares & price - to retain the overall ROI.

old = 4869.153 shrs @ $9.76 new = 4243.119 shra @ $11.20

yeah - I just did that - to basically keep track of the current number of shares & market value.... so we know what's avail to withdraw - UW Madison -