How do I remove an incorrect security holding from a Quicken Mac account?

Allen101

A new install of Quicken Mac via conversion of a Quicken Windows 2017 data file created an add security position dated 7/29/2004 for a security I do not currently hold. When I delete it or add a compensating remove shares transaction, the position reappears when I do online update.

John_in_NC

Does this investment account begin 7/29/2004? Is this Add security in light gray?

(It sounds like a placeholder transaction being added by what is being reported from your brokerage.)

If you create a new, blank file and add this investment account, does this (not held) position get reported? It sounds almost as if the brokerage is reporting that it exists even though you don't.

Allen101

Thanks John
It is a placeholder. When I created a new data set, then downloaded the
account it did not find the ghost position. Also, I already checked with Schwab and they state is it not coming from them. Not sure how to proceed.
If I delete the account in my active data set and restore it I lose all
my data prior to 2018 which means all my cost data. Any thoughts?

John_in_NC

It sounds like you know what you are checking. Good.

Being that things work correctly in a new file, then it appears Scwab is pushing out the correct data. Something in your file makes Quicken think you have a different balance. Being that I can't see your data, all I can do is offer suggestions. Is the account value correct before or after the placeholder transaction gets added?

If you look at the portfolio view (when the no longer held fund is showing), does showing the lots provide any information? Before updates, is the no longer held fund indeed not showing in the Portfolio view?

Is the same security used for all lots? Is this a fractional share amount? Odd dates for any of the buys/sells?

While I don't suspect this has anything to do with it, reseting cloud data in connected services in Preferences wouldn't hurt/lose anything.

Allen101

Thanks for some more ideas.

The security in question was held in the account from about 2004 to 2006. I went back to the QW 2017 data and ran the start anew year process first to 1/1/2008 and then to 1/1/2012. That should have eliminated any time when the security was held. In each case, I migrated the data into Quicken Mac and then did online update. In each case, the security reappeared. I am wondering if I do a Validate or Super Validate on the QW 2017 data before downloading if that could help. Off to work today so that will have to wait.

I the meantime, my work around is to add a character to the fund symbol so it fails to update and edit the closing value of the fund to zero which corrects my portfolio value. Then, I am stepping backwards setting all prior closing values to zero which corrects my historical values and performance data. Time consuming! I will have a problem if I ever own that fund again.

Allen101

To answer your question, the placeholder is one of the earliest transactions. If I do nothing, the current value reported is several hundred thousand dollars too high. If I set the current price of the fund to zero my account balance in Quicken is correct and matches the value on the Schwab website.

John_in_NC

While it could be latent corruption in your QWin file (and a validate/repair won't hurt), it sure sounds like a security mismatch. 

If you go into the Securities list in QMac, do you see multiple (or differing) listings for this security?

(I don't believe the Year End Copy in QWin will trim out older investment transactions.  I believe it only relates to cash/credit account transactions. But, I am less familiar with QWin and the year end copy.)

Allen101

Only one listing for the security (Oakmark Fund; OAKMX). I own other several other Oakmark funds and all positions are correct.

Allen101

A final update. When I create a new empty data file and setup the Schwab account the incorrect position is not recreated. So, I decided to delete and recreate the account in my active data file. In this case, the incorrect position reappeared in the recreated account.

John_in_NC

Thanks for the update, Allen.

This is odd. Out of curiosity, when you created your blank, new file with Scwab (where the position didn't show up), how much historical data did you get? 

(Most brokerages won't provide 16 years of data, so I would expect that it doesn't show up. But, it did when you created a new account in your existing file.)