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When changing a "Withdraw" Action to a Miscellaneous Expense, it still shows as "Withdraw"?

Jerry_

My new brokerage firm is downloading a foreign tax expense designated as a "Withdraw" (Action).like so:
Date Action Security Description -----------------------------------

Image: https://us.v-cdn.net/6031128/uploads/editor/gp/b02n5pegtj6m.png

Now, if I double-click the transaction, I am taken to this Window where I can change the action to Miscellaneous Expense like so:

After I select the Enter/Done Button, Here is what the transaction in the Investment Register looks like:
Date Action Security Description ---------------------------------------

Image: https://us.v-cdn.net/6031128/uploads/editor/jy/w9tayjtmb1ox.png

Now, when I highlight the above transaction, it appears as such:
Date Action Security Description -----------------------------------------

Image: https://us.v-cdn.net/6031128/uploads/editor/kq/bxxqeecyrzlm.png

It seems to only affect the appearance of the transaction line; for when I double-click again, the Edit Miscellaneous Expense Window reappears showing the Action as Miscellaneous Expense.

In the meantime, I just create a new Miscellaneous Expense entering the data for the foreign tax from the Edit Miscellaneous Expense Window above shown, and delete the Withdraw transaction..

Does anybody else have this behavior?

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Accepted answers

Chris_QPW

I would call it a bug.

If I start with MiscExp as the action that is what I get for the action in the transaction.

If I start with Withdraw and then edit and change to MiscExp it stays at Withdraw.
Quicken can't have it both ways. Either it is illegal to change a Withdraw to a MisExp and they should block it (which is in fact wrong) or the edit needs to be "complete" as in it should be just as if I started with MiscExp. Leaving the edit in a half in half out state is wrong.

These two don't line up and they should.

Image: https://us.v-cdn.net/6031128/uploads/editor/w9/wa17aguzjla0.png

Image: https://us.v-cdn.net/6031128/uploads/editor/ek/28fkd6i7z37o.png

All comments

q_lurker

Off the top I believe I have seen that behavior possibly for a couple of years. I use the same fix== delete and re-enter as I want it.

Boatnmaniac

I'm not sure I understand your concern. "Misc Exp" is a general catch all bucket action that can be used for a number of different things...all of which are investment expenses (i.e, tax impact related). It's simply a withdrawal of cash to pay for something related to your investments. So, "Misc Exp" is the correct action for this kind of transaction.

But "Withdraw" is also a valid action for this type of thing because a "Misc Exp" is a withdrawal.

Either way, neither one has anything to do with tax classification. That is controlled by the category and the category appears to be correct.

So, what am I missing here?

q_lurker

From my seat, it is not a big deal, but I prefer some uniformity. If I've used MiscExp before for that type of transaction, I'd like to continue to do so.

While it appears one can simply edit the transaction and change the action to MiscExp from Withdraw, the reality is that the action does not change even though other aspects (like category) do change. Thus the irritant. In other cases, Quicken will not let you "save" an improper change. In this case, no objection from the program. It just doesn't do what you told it to do.

Jerry_

Guys, I just don't like the appearance that is shown on the transaction line. In my case, when my transaction is high lighted, the description field is confusing.

Any reports generated are correct. The correct figure is place in the correct category.

Chris_QPW

Jerry_

q_lurker, thanks for your observation.

I think that the Program should either show the change of Actions correctly on the Transaction Register Line or flag such a change from a Cash.to Investment or Investment to Cash as Invalid via a Dialog Window.

I have enough problems with changing Dividends or Interest Transactions to Tax-free Ones. But that is another story.

Brian Cross

When a fee comes in as a withdrawal, the solution is to click on the transaction in the transaction list and remove what is in the Payee field. Quicken will automatically change it to a Miscellaneous Expense when you save it.

Similarly, if you add a Payee to a Miscellaneous Expense, Quicken will automatically change it to a Withdrawal when you save it.

I agree this is very confusing because if you try to use the edit window to correct this, the Payee field does not even show up in the window.

Brian Cross

Correction:

When a fee comes in as a withdrawal, the easiest solution is to click on the transaction in the transaction list and remove what is in the Description column (which is actually the Payee field). Quicken will automatically change it to a Miscellaneous Expense when you save it.

Similarly, anytime you add a Payee to a Miscellaneous Expense, Quicken will automatically change it to a Withdrawal when you save it.

Jerry_

Brian,

I just received a chance to apply your "work-around" to an investment transaction denoted as a Withdrawal. I erased the contents in the Description Column while in the Transaction List and saved the transaction, Sure enough, the transaction became a Miscellaneous Expense. I then edited the transaction to enter the Name of the Security which was blank - optional entry. It was still denoted as a Miscellaneous Expense when I saved the transaction.

Thank you for an easy work around.

crabassa

This fix is very tedious.
As a known glitch, can it please be fixed