[GNC] Mutual Fund Class Conversion

[Jack Frillman]

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
>>>>
>>

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