Timestamp field on another field's dropdown value

I'm trying to create a calculated field that will be used as a timestamp for when a Case's status is updated to Closed. 

I have created a custom Datetime field in the Cases module in Studio and using this as my formula:

date(ifElse(isInList($status,createList("Closed")),now(),""))

That formula doesn't appear to do anything when the Case's status is updated to Closed. I've also tried:

date(ifElse(isInList($status,createList("Closed")),timestamp(now()),""))

And that formula throws an error when I update the status to Closed, saying I need to correct the error before it can save. So it's doing something, but not successfully updating the field to the day/time that the case was marked Closed.

I'm running Sugar 7.9.1.0 Professional

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