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Raj,

If you are only concerned about maintaining your cost basis on the total value of your holding in the mutual fund why don't you just edit the name of the fund? I assume you purchased B shares because they were the “deferred load” types. A type shares you pay the load up front, thus reducing the amount of your investment from day one.
The other difference between A and B shares is the fees, with the A shares sporting a somewhat reduced total cost.

Open your investment register and click on detail view then edit. Type in the new name and your done. In my case I own one mutual fund that I purchased at one time and tagged “Class B” as part of the name. I could just change the B to A and be done with it. Since then I have received both short and long term capital gains which I have automatically reinvested. When I receive a statement I just make the new entries in my register. Quicken shows my cost basis in the detail view.

Hope this helps,
Kurt
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