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shares downloaded are not differentiating between traditional shares & roth shares

Daniel Noel
Daniel Noel Member ✭✭
edited October 2018 in Investing (Windows)
shares downloaded are not differentiating between traditional shares & roth shares.  Single 401K where I decided to split type of shares purchased between the traditional & ROTH of the same symbol investments.  When downloading updates from the financial institution it only represents the total shares purchased not the difference.  Although when you view the account on-line, the purchase shows the difference.

Comments

  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited October 2018
    I had an 401(k) that allowed both Roth and Regular payroll deductions.  Similarly to what you are saying it held all investments in the "same" account.  While it might have the same account number or look like the same account the FI overseeing the account is actually tracking them separately through some internal mechanism.  So while it is showing XYZ Roth and XYZ Regular as 2 positions for XYZ stock the stock is technically the same (i.e. same symbol, same CUSIP, etc).  So when your FI sends the information to Quicken it is only sending information for the stock (XYZ), the number of shares, price etc and thus Quicken cannot discern the difference.

    What I did was create 2 separate securities with the same ticker symbol in Quicken (XYZ) with different names (XYZ Roth and XZY Regular) and then when the information downloaded I made sure to separate the transactions by the two version of the same security.

    Don't ask me with these FIs don't actually use 2 separate accounts for the Roth and Regular.  Best of luck.
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited February 2017

    I had an 401(k) that allowed both Roth and Regular payroll deductions.  Similarly to what you are saying it held all investments in the "same" account.  While it might have the same account number or look like the same account the FI overseeing the account is actually tracking them separately through some internal mechanism.  So while it is showing XYZ Roth and XYZ Regular as 2 positions for XYZ stock the stock is technically the same (i.e. same symbol, same CUSIP, etc).  So when your FI sends the information to Quicken it is only sending information for the stock (XYZ), the number of shares, price etc and thus Quicken cannot discern the difference.

    What I did was create 2 separate securities with the same ticker symbol in Quicken (XYZ) with different names (XYZ Roth and XZY Regular) and then when the information downloaded I made sure to separate the transactions by the two version of the same security.

    Don't ask me with these FIs don't actually use 2 separate accounts for the Roth and Regular.  Best of luck.

    LEGALLY, they're 2 separate accounts ... because they have entirely different tax consequences and are reported differently when you withdraw from them.  My IRA and Roth accounts at Fidelity even have slightly different registrations ... different Trustee companies at Fidelity.

    Why the FI pretends otherwise is something that you'd have to ask them.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
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