Money Market Fund


W

William W. Plummer

I need some help with the way Quicken 05 handles my Vanguard Prime Money
Market fund. I sold some of this last year in order to buy something
else. After transferring data into Turbo Tax, it appears as if a slew
of individual lots were tracked. Aren't money market funds kept at
exactly $1 per share. So, when I sell 100 shares, the cost basis is
$100 and the gain will be zero?

Now, and maybe in the past, I have the "Use Average Price" box checked
on the security. Is this right?
 
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C

Charlie K

Checking average cost is correct. However, it is still handled the
same way by Quicken, that is a sale at cost at $1 per share regarless
of the box checking. Quicken still tracks the lots though. My Vanguard
money market shows up like your does in the capital gains reports. So
does my TD Waterhouse MM fund. I haven't tries transfers to TurboTax so
I can't tell you how that works. Just delete those transactions from
TurboTax. They're not reportable.
 

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