A mutual fund I have has been "reorganized" into another fund. In place of the X shares I had of Fund A, I now have Y shares of Fund B. How do I record that in Quicken 2003?
It looked like the right transaction to use was a non-taxable Corporate Spin-off. I tried it and this is what happened:
It recorded a buy of Fund B on the day that I purchased Fund A. That seems right. But the cost basis is only half of what the cost basis of Fund A was.
It also recorded a Return of Capital of Fund A. But the shares of Fund A still show up in the Investing Center -- with a cost basis that is half of the original cost basis.
So the total cost basis now showing in the Investing Center is now the same as the original cost basis of Fund A. But half is now on Fund A and half is on Fund B.
Anyone know the right way to do this?
Thanks.
- Eric S.