Non-taxable Mutual Fund Merger in Quicken
Dennis van Dam
of an existing fund are exchanged for shares of a new fund at a rate of
.64126002 new shares for each old share such that merger-exchange is
represented as a non-taxable transaction.
If I use a combination of Sell and Buy or Move Shares-Out and Move
Shares-In transactions to denote the exhange, the registers for new and
old come out nice and neat but in a report Quicken indicates a Realized
Gain/Loss at the time of the transaction(s) which needs to represent as
gain/loss neutral. (No gain/loss until I actully sell shares of the new
fund.)
I can get around the Realized Gain/Loss issue if I use a Stock Split
transaction to denote the exchange of shares in the original register and
then continue to use the original register for new fund transactions.
The problem with this approach is the new fund has a different stock
symbol than the old fund.
Is there a straight forward method to represent this transaction or am I
going to have to scribble notes in the margins of an investments
transaction detail report to indicate that a realized gain/loss actually
isn't until I actually sell the new fund shares?
I've been struggling with this one for days now, any help would be greatly
appreciated.
Dennis van Dam
Quicken 2000 on a Mac
vcard
"Check out the Corporate Acquisition transaction in Quicken. It works for
this type of scenario."
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vcard
"Dennis van Dam" <dva...@mindspring.com> wrote in message
news:dvandam-0206...@sdn-ap-006tnnashp0507.dialsprint.net...
Megan
"Mutual Fund Conversion" transaction did the trick for me.
--
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Fred Jacobowitz
The transaction drop-down list does not include Mutual Fund Conversion. It does have Mutual Fund Name Change. But that does not include the fields noted above.
John Pollard
Quicken 2017 Premier Version R6
The transaction drop-down list does not include Mutual Fund Conversion.
Yes it does, if you start with the "Enter Transactions" button.
Fred Jacobowitz
Hmmm.
I wish I can attach a screen shot.
What am I doing wrong.
1)Select a Mutual Fund Account
2)Select "Enter Transactions" which is adjacent to "Holdings"
3)Select the drop-down arrow in the "Enter Transaction" field.
I see
Buys-Shares Bought
Sell..
Div..
Reinvest..
Inc..
Add ..
Remove..
Adjust Share Balance
Stop Split
Return of Capital
Shares Transferred Between Accounts
Mutual Fund Name Change
Reminder Transaction
Do you have other entries?
Thank you,
Fred J.
John Pollard
Is your Quicken account a "Single Mutual Fund" account? See the Display tab
of the Edit Account Details dialog for the account.
A Quicken Single Mutual Fund account can never contain more than one
security; the first security seen by the account.
The Mutual Fund Conversion transaction intends to "convert" an "Existing
fund" to a "New mutual fund": that can not happen in a Single Mutual Fund
account, as it calls for having two securities in the account.
You can remove the Single Mutual Fund characteristic from the account on
that same Display tab of the Edit Account Details dialog. Just to be safe, I
would backup first.
John Pollard
The Mutual Fund Conversion transaction intends to "convert" an "Existing
fund" to a "New mutual fund": that can not happen in a Single Mutual Fund
account, as it calls for having two securities in the account.
I don't have your original post in this discussion so perhaps the following
is redundant, but here's a discussion on the subject of Corporate
Acquisition vs Mutual Fund Conversion.
https://getsatisfaction.com/quickencommunity/topics/mutual-fund-conversion-and-corp-acquistion-transactions-cause-annual-return-error