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How to record mutual fund share class exchange

I'm not sure how to record in Quick H&B 2007 R5 a non-taxable exchange of some shares of a mutual from one class to another. After holding class B shares for the required time, they converted to class A shares. Downloading directly from the FI (UBS) did not record the change, but instead triggered the placeholder message, which I canceled.
Neither corporate acquisition nor spin-off seem to apply here. Corporate name change won't work because it's only some of the shares. Adding and removing shares seems to lose the cost basis history. Buying and selling, even making the total dollar amounts equal, also seems to lose cost basis history and creates capital gains and losses.
I'd didn't find anything in the Quicken help. Still searching the Quicken user forum with no success so far.
I'd appreciate any useful suggestions. .............................. I used to be indecisive. Now I'm not sure.
Reply to
Route 101©
Appears that Add/Remove currently is the least undesirable method, although other more involved and manually intensive approaches have been suggested. Quicken currently does not seem to have a function to do this directly.
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I used to be indecisive. Now I'm not sure.
Reply to
Route 101©
Corporate Acquisition is the only Quicken transaction I know that applies the sort of logic needed ... but unfortunately, it applies to all shares of the acquired "company".
However, I think you're mistaken that Add Shares loses cost basis. If you use the "Enter Transactions" button and look at the "Add - Shares Added" transaction form, you'll note that the Add Shares transaction allows you to tell Quicken to cost of the lot and date it was acquired ... both useful for your purposes.
I think you can use one "Shares Removed" transaction to remove all appropriate lots of the class B shares; then one Add Shares transaction for each "lot" of class B shares that converted to class A shares. You can have a different number of shares in the class B Add Shares transaction than were in the removed class A lot, but the same cost and same acquisition date as the class A lot.
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John Pollard
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Reply to
John Pollard
Yes, you are correct, and your post corresponds to the various info. from senior Quicken user forum members. Using corporate name change as one suggested requires manually deleting the lots not converted.
I used your approach and entered the total cost (basis) from the removed class B shares as the cost of the added class A shares and let Quicken calculate the price per share.
Unfortunately, my statement shows a total lot amount "exchanged from" that does not seem to correspond to my individual lots in Quicken. That makes it difficult to enter a real original acquisition date for ST/LT and performance purposes; at least they are in IRAs. I may just use the earlier purchase dates instead of the exchange dates, because they all will be LT when they convert, and there are no Schedule Ds involved anyway.
Thanks for your reply.
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I used to be indecisive. Now I'm not sure.
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Reply to
Route 101©
Here is a link to a message which discusses this:
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When I had these conversions I dreaded this as it took sometime to record each of the lots.
Oilcan
Reply to
Oilcan
it
Actually, I believe that is the correct way to do it, and I meant to say that in my previous post; sorry about that.
If all your shares had converted, you could have used the Corporate Acquisition transaction, and the Corporate Acquisition uses the original purchase date for the "Date Acquired" in the Add Shares transactions it generates.
Reply to
John Pollard

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