Removed Shares

Fidelity changed their core cash account from Fidelity Cash Reserves to Fidelity Treasurey Money Market Fund.  I downloaded a transaction to my Rollover IRA Account in Quicken Deluxe 2019 that had an action to Remove Shares.  It stated it was to transfer from FDRXX to FZFXX.  The shares are removed which lowered my cost basis and the actual account value even though I requested it didn't change the cash balance (which it didn't).  How do I know if the core cash account in Quicken has changed or how do I do it?  Also do the shares need to be added back?  Not sure how to handle this or if it really matters.

Best Answer

  • brooksrs@
    [email protected] Member ✭✭
    Accepted Answer
    What you say is what I was alluding to in my previous comment.  Fidelity just sent me that and there are some dividends that went into Fidelity Cash Reserves but it and other dividends just go into "cash" in quicken.  I think this is just something that Fidelity did and like you are saying I don't need it.  I think I am just going to delete the transactions and be done with it as all other things are balanced and equal.  Thanks for your help.  You helped me determine that the Remove transaction just isn't needed and that is what I needed.  Thanks again.

Answers

  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited April 2019
    Fidelity should have downloaded a "Shares Added" transaction at the same time.
    You can do so manually,
    OR, in some Q products, you can change that "Shared Removed" to a "Corporate Acquisition of FDRXX by FZFXX 
    OR, you can just leave all of the cash in the account as just that ... CASH.  And don't bother to record it as a security, which is what I do.  Saves a whole lot of needless/meaningless buys & sells of a security that's always $1.00.  You'd need to change that "Shares Removed" to a sell for $1/sh to adopt this policy.
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • I never actually setup the Fidelity Cash Reserves as the core cash account so in essence it already is a pure cash account.  Everything in my accounts are balanced give a take a few pennies so what would be the issue if I just delete the Remove transactions
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    If you never set up FDRXX as a security in Q ... why does the switch to FZFXX matter ... because there shouldn't have been a download of ANY transactions for FDRXX?
    Can you show us a picture of that Remove transaction, with the amount redacted or not included?
    Q user since DOS version 5
    Now running Quicken Windows Subscription, Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • brooksrs@
    [email protected] Member ✭✭
    Accepted Answer
    What you say is what I was alluding to in my previous comment.  Fidelity just sent me that and there are some dividends that went into Fidelity Cash Reserves but it and other dividends just go into "cash" in quicken.  I think this is just something that Fidelity did and like you are saying I don't need it.  I think I am just going to delete the transactions and be done with it as all other things are balanced and equal.  Thanks for your help.  You helped me determine that the Remove transaction just isn't needed and that is what I needed.  Thanks again.
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