I got it figured out. Not sure how it works but things look fine so I happy.
Thanks for the help.
Jack
On 2/15/22 11:35 PM, Geoff wrote:
Fear not Jack, you are nearly there!
The magic number we are looking for (your Cost Base) is:
(a) what you paid for the Initial Purchase
(b) the cash equivalent value of your two Reinvests
I think you know these numbers because you have shown them as "$xxxx",
and we don't need to know them here.
"DRP" = Dividend Reinvestment Plan.
Ignore the discrepancy in the column headings - for DFMGX I used the
menu option View / Transaction Journal; for DFMLX I used (the default)
View / Auto-Split Ledger.
Sorry again for the confusion.
Good night.
Geoff
=====
On 16/02/2022 2:48 pm, Jack Frillman wrote:
Now I'm really confused.
No brokerage fees. I pay mine on a quarterly basis and it's an IRA
account so no taxes yet.
I don't know what a DRP is so the answer is no to that one.
First thing is I don't have split transactions and the columns in my
register do not match what you have.
My columns are: Date Num Description Transfer R Shares Price Buy
Sell Balance
I have no idea where your "Tot Debt" and "Tot Credit" columns came
from and I don't have them.
I have only 3 transactions:
Description Transfer Shares
Buy Balance
Initial Purchase Invest:IRA 398.75 $xxxx 398.75
Reinvest IRA:Dividends 6.148
$xxxx 404.989
Reinvest IRA:Dividends 5.311 $xxxx
410.209
I will take a closer look at your example in the morning.
On 2/15/22 9:59 PM, Geoff wrote:
Sorry Jack, that is just the total acquisition cost of your 410.209
units in DFMGX:
- How much did you pay for them?
- Were there any brokerage fees or taxes?
- Did you receive any units in lieu of income (DRP)?
Add that all up and enter it as the Credit when you reduce DFMGX,
and again as the Debit when you increase DFMLX.
See attached screenshot for an imaginary example where you purchased
two lots (300 and 100) and received a further 10.209 via DRP. (Dates
are in DD/MM/YYYY format).
Hope this helps.
Geoff
=====
On 16/02/2022 1:20 pm, Jack Frillman wrote:
That make sense except for the "The value you attribute to this
transaction should be the total cost base of DFMGX, so that DFMLX
inherits the same cost base."
How do I do that?
When I reduce DFMGX by 410.20900 shares to 0 transfer them to the
new DFMLX with the transaction drop-down selection thingy?
OR
Do I just reduce DFMGX by 410.20900 shares to 0 by dumping them
into a trash account then enter a new balance of 410.08500 in the
DFMLX account?
On 2/15/22 8:14 PM, Geoff wrote:
Hi Jack
***Assuming there is no cash component, and this is not a capital
gains taxable event, I think that you need to:
(a) Create a new Security and a new Account for DFMLX.
(b) In a single transaction, reduce the balance of DFMGX to zero,
and increase the balance of DFMLX to 410.085. The value you
attribute to this transaction should be the total cost base of
DFMGX, so that DFMLX inherits the same cost base.
***I am not an accountant.
Regards
Geoff
=====
On 16/02/2022 11:18 am, Jack Frillman via gnucash-user wrote:
How should I handle a "Mutual Fund Share Class Conversion".
In my case I had the following transaction, see summary below,
show up in my broker account:
(410.20900) shares of DF DENT MID CAP GROWTH FUND INSTL CL N/L
(DFMGX)
converting to
410.08500 shares of DF DENT MID CAP GROWTH FUND INSTL PLUS CL
N/L (DFMLX)
No price or $ amount is associated with this transaction.
The only things that changed are 1) ticker symbol, 2) name of
Mutual Fund, 3) number of shares.
Not sure what to do.
Any suggestion will be greatly appreciated.
Thanks.
Jack
--
Old Unix programmers never die, they just mv to /dev/null
- Anonymous
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