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Non-taxable Mutual Fund Merger in Quicken

 
 
Dennis van Dam
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      06-02-2005, 06:17 AM
In Quicken, how do I represent the merger of two mutual funds where shares
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
 
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      06-02-2005, 12:23 PM
From Mike B's post on 6/1 regarding the same problem:

"Check out the Corporate Acquisition transaction in Quicken. It works for
this type of scenario."

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"Dennis van Dam" <(E-Mail Removed)> wrote in message
news:(E-Mail Removed)...
> In Quicken, how do I represent the merger of two mutual funds where shares
> 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



 
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