Transfering Shares to a new Account number

You should have: first created a new Quicken investment account; then used the Quicken "Shares transferred between accounts" to transfer your holdings from the old account to the new account.

When you subsequently got downloads for either account, they should have "matched" the transactions already in your Quicken accounts. If they didn't match, you should have just deleted the downloaded transactions.

Delete the downloaded transactions and you should be okay moving forward. As an alternative you could have created a new account in Quicken and transferred the shares between the accounts.

Oilcan

-----Original Message----- From: Dick [mailto: snipped-for-privacy@netscape.net] Posted At: Tuesday, April 15, 2008 3:24 PM Posted To: alt.comp.software.financial.quicken Conversation: Transfering Shares to a new Account number Subject: Transfering Shares to a new Account number

I just had one of my mutual funds change my account to a living trust, in doing so they made the change by opening a new account in the new name. Then they transferred the shares owned in the old account to the new account number with no cost. How do fix Quicken 07 to make the change that the mutual fund made. When I try to download the data from the mutual fund quicken tells me that the fund does not recognize the old account number any longer and I should update the number in the Quicken one step download to reflect the new number. When I do this the download takes place and adds the shares to the account but this doubles the shares that I own with no cost (this would be great if it were true). I'm at a complete lose as to how I should be handling this action. Any help is appreciated.

John, If I open a new account and transfer all the shares to it will it not change all of the transaction date to today ? If that happens I will lose all date of purchases and will not have a correct long term / short term cap gains reports when the shares are sold. If I just delete the downloaded transaction I think this will solve my problem. What do you think? Thanks for you help. Dick

It will make the transaction date "today" (or the day of the transfer): but that is the correct date of the "transaction".

No, you will not lose the date of the purchases.

When Quicken "transfers shares between accounts", it uses multiple "Shares Added" transactions to enter the shares in the new account: one Shares Added transaction for each lot held in the FROM account ... with a "Date Acquired" the same as the purchase date of each lot in the FROM account.

If you are having a problem imagining this, just make a backup of your current Quicken data, enter the transaction, and check it out for yourself. If you don't like the result, you can restore the backup.

[If deleting the downloaded transactions makes you happy, by all means do that. I mostly made my coments for future reference.]