- posted 14 years ago
I have a mutual fund investment which converts from Class B Shares to Class A Shares 72 months after the investment. The conversion is not considered a taxable event. Selling Class B Shares outright is a taxable event.
I have these investments set-up in single Investment Account within Quicken. Each month I record off the statement a sale of Class B and a purchase of Class A. Example:
6/1/2005 - Sell 100 Shares Class B $150 6/1/2005 - Buy 101 Shares Class A $150
(Note the NAV of the classes are generally not the same which is why the shares differ).
The Sell transaction triggers a Realized Gain (Long Term) within Quicken. Is there a better way to enter this so a Realized Gain is not recorded - or have the gain classified as Unrealized?