Mutual Fund Stock Symbol repeats

Mutual Fund Stock Symbol repeats

Post by Gene » Tue, 19 Aug 2003 01:27:57



I've got a normal account with a certain mutual fund, and
another Roth IRA account with the same fund.  Money won't
let me have the same stock symbol for each, only one.  So
I have to manually update the price of the other.  Any
help?  Thanks
 
 
 

Mutual Fund Stock Symbol repeats

Post by Ron Rosenfel » Tue, 19 Aug 2003 01:43:46



>I've got a normal account with a certain mutual fund, and
>another Roth IRA account with the same fund.  Money won't
>let me have the same stock symbol for each, only one.  So
>I have to manually update the price of the other.  Any
>help?  Thanks

You've set up something incorrectly, and this seems to be a fairly common
mistake.

There is no need to duplicate the stock symbol.

There is an FAQ about this but basically what you should do is set up two
investment accounts.

Account#1 is your Normal Account.  This account will have a financial
institution, account number, etc.

Account#2 is your Roth IRA account.  This accound will also have a financial
institution (which may be the same as #1), account number, and you will
probably check off the proper account type.

Then you should execute a BUY transaction within account #1 for the mutual
fund.  When you do the BUY, you will see a place to select the account, the
investment (your mutual fund) as well as the costs.

Then you execute a BUY transaction for the same investment (mutual fund) in
account #2.

--ron

 
 
 

Mutual Fund Stock Symbol repeats

Post by Dick Watso » Tue, 19 Aug 2003 02:30:30


The FAQ:
---
Q): I hold the same investment in two accounts. But when I try to enter the
same symbol again Money complains. Why?

A): You only define an Investment once. The symbol is an attribute of the
Investment, not the Account holding of the Investment. When you want to Buy
the same Investment for another Investment Account, choose the Investment
from the drop-down list instead of trying to define the Investment again. An
"Investment" is just a name and a symbol and some price history. The
Investment Account keeps track of holdings of a given Investment. Answer
derived from one by Doug Wilson.


Quote:> I've got a normal account with a certain mutual fund, and
> another Roth IRA account with the same fund.  Money won't
> let me have the same stock symbol for each, only one.  So
> I have to manually update the price of the other.  Any
> help?  Thanks