Exchanging funds

Posted by Jim T. on February 2, 2009, 7:33 pm

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We have an annuity that contains investments in several funds. I
exchanged one fund for another using the company's web site. It worked
just fine.
I find no way in Quicken ('09 Deluxe) to record this so I sold one and
bought the other with the proceeds. The profit on the one sold shows
up in the capital gains list. (It was a loss BTW)
Of course I can ignore that when filing my return, but it tends to
distort my income vs expense reports that include realized gains.
Is there a better way? I've searched without any luck.

Posted by danbrown on February 3, 2009, 12:41 pm

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> We have an annuity that contains investments in several funds. I

> exchanged one fund for another using the company's web site. It worked

> just fine.

> I find no way in Quicken ('09 Deluxe) to record this so I sold one and

> bought the other with the proceeds. The profit on the one sold shows

> up in the capital gains list. (It was a loss BTW)

> Of course I can ignore that when filing my return, but it tends to

> distort my income vs expense reports that include realized gains.

> Is there a better way? I've searched without any luck.

What sort of account, within Quicken, is the annuity set up as? Is
suspect that you have each of the annuity investments set up as a
"Single Mutual Fund", rather than having a single investment account
that holds all the annuity investments.

What are the tax attributes of that account? It appears that you have
NOT set the annuity account(s) to reflect their tax-free status.

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