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Posted by Oilcan on July 10, 2007, 11:08 pm
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Here is a link to a message which discusses this:
http://groups.google.com/group/alt.comp.software.financial.quicken/browse_thread/thread/bf60c03f6eb5f43e/f51974764c981bf1?lnk=gst&q=Class+B+to+Class+A+Conversion&rnum=3&hl=en#f51974764c981bf1
When I had these conversions I dreaded this as it took sometime to record
each of the lots.
Oilcan
> 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.
> --
> ..............................
> I used to be indecisive. Now I'm not sure.
>
>
>> Route 101© wrote:
>>> 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.
>>
>> 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.
>>
>> --
>> John Pollard
>> First initial underscore Last name at mchsi dot com
>> Please reply to newsgroup
>>
>
>
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