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Premier is not registering IRA to Roth conversion transfers

I am using Q Premier, and recently made conversion/transfers from my IRA to two of my Roth IRAs at Schwab. The conversion/transfers entered and were recorded in one account appropriately, but the bulk of the conversion/transfers to the 2nd account do NOT register in Q, although they do show as having transferred at Schwab. How can I correct this, and get Q to recognize these conversion/transfers? I have selectively updated these accounts without success.

Answers

  • BK
    BK Member ✭✭✭✭
    It always helps the community to know your exact version/build of Quicken (Help > About) to troubleshoot and determine if there is a common denominator.
    And did you use the One Step Update (OSU) method or "Update Transactions" to update your accounts?
    There have been few posts here in the last week about various Schwab issues, some have received no data, some are partial (like you), and others are ok. On the surface it appears to be a Schwab issue but perhaps too premature to determine that.
    For what it's worth, when I encounter such issues, I go to that specific account and use the "Update Transactions" instead of OSU.  If that doesn't help, I try again in 2+ days.
    - Q Win Deluxe user since 2010, US Subs R32.12
    - I don't use Sync, Cloud, Mobile, Web, Bill Pay/Mgr, Tax
    - Techie, Win10 Pro x64 20H2
  • BK,
    Thanks for your timely advice. My Premier version build: R30.14.

    I tried to update using the OSU initially, and then, I also tried to do it with "Update Transaction" when in the accounts from Schwab.....neither method worked.

    I am a bit reassured that you have noted others having this problem with Schwab accounts, and I will take your advice and wait a couple of days more (I had already given it 4 days).

    Thanks again for your guidance.

    Richard Roberts
  • BK....a little more clearly: Quicken Premier 2020, Version 30.14, Build 27.1.30.14.
  • markus1957
    markus1957 SuperUser, Windows Beta Beta
    You should review this product improvement suggestion regarding Roths for methods that can work around this deficiency in Quicken.  You can also vote for the suggestion if you agree Quicken should make Roth conversions and other IRA distributions.

    Improve handling of IRA distributions, QCDs, and Roth conversions — Quicken
  • BK
    BK Member ✭✭✭✭
    edited December 2020
    ... (I had already given it 4 days).
    @Richard Roberts , Just to test my understanding, in Quicken your Roth1 does show the [converted] transaction(s) but your Roth2 shows partial or nothing at all, correct?  So the balance/value on your Q Roth2 is off?  And did this start before you updated to R30.14?
    4 days is plenty IMO!  But sometimes I do give it 10 days when there appears to be a widespread issue and more often than not somebody resolves it eventually.  I would say plan to contact Quicken support: https://www.quicken.com/support#contact-support
    Since this works for one of your Schwab accounts but not the other, my guess is that Q support will ask you to deactivate/reactivate that account first and subsequently ALL of your Schwab accounts.  Hopefully the community superusers will chime in with suggestions.
    Worst case scenario is that you can manually create a new transaction entry(s) in Roth2 and link it to the corresponding transfer to your IRA.  This would be a short-term solution of course.
    Edit: If tax implications/reporting via Quicken is important to you, review the link that @markus1957 provided above since Quicken does not do this well.
    - Q Win Deluxe user since 2010, US Subs R32.12
    - I don't use Sync, Cloud, Mobile, Web, Bill Pay/Mgr, Tax
    - Techie, Win10 Pro x64 20H2
  • BK,

    You have it right: my Q Roth 1 shows the correct "Added" conversion transactions from my Q IRA, and the Q IRA shows the correct "Removed" assets that were converted into the Q Roth 1. The Q Roth 1 account value matches my Schwab Roth 1 account showing these conversions.

    My Q Roth 2 registers NONE of the conversion transactions (Added to) from my Q IRA, which also shows none of the converted transactions (Removed from) that are shown on my Schwab accounts.

    Thus my Q Roth 1 agrees with my Schwab Roth 1, and the valuations are the same.

    My Q Roth 2 value does NOT agree with my Schwab Roth 2, and is off by the conversion transactions not registered in Q. Also my Q IRA disagrees in value with my Schwab IRA by the non-registered conversions that were done at Schwab.

    I will see if any other options are suggested here, and then will contact Quicken Support as you suggested if I do not see resolution or a path to resolution.

    Thanks.
  • Also, I am supposed to have "Premium Support", but when I call the number, I find out this is not "regular business hours", so I need to call back. And, when I follow the link you listed, I try to click on the "talk to us" button, and nothing happens, and if I try to "Sign In", it takes me to a worthless page...no ability to ask my questions.
    Very Disappointing!
  • BK
    BK Member ✭✭✭✭
    edited December 2020
    On the support website issue, I have found that my Firefox browser security is blocking some access and causing issues and I have not bothered to disable it.  Instead I use Chrome or Edge to reach support when I need to.  I don't know how the premium support works - very sorry.
    - Q Win Deluxe user since 2010, US Subs R32.12
    - I don't use Sync, Cloud, Mobile, Web, Bill Pay/Mgr, Tax
    - Techie, Win10 Pro x64 20H2
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭
    Also, I am supposed to have "Premium Support", but when I call the number, I find out this is not "regular business hours", so I need to call back. And, when I follow the link you listed, I try to click on the "talk to us" button, and nothing happens, and if I try to "Sign In", it takes me to a worthless page...no ability to ask my questions.
    Very Disappointing!
    If your browser is set up to block popups you will get these kind of results.  Either turn off the popup blocker setting or allow popups for Quicken.com.
    Also, if you have a popup blocker add-on or a VPN add-on that includes popup blocker, make sure that Quicken.com is allowed or whitelisted for popups or disable the add-on for Quicken.com.  (My VPN is Windscribe and even when I have the VPN disabled the popup blocker remains functional so I had to whitelist Quicken.com.)
    (QW Premier Subscription: R32.12 on Windows 10)
  • BK and Boatnmaniac: Thanks for your help.
    I tried to disable the pop-up blocker in Chrome, and white listed Quicken support in it and in my VPN.....still couldn't get "chat" function to work on Quicken support site, so I waited until after the weekend.
    I did make phone contact with support today, and did the following:
    Made new Data file, downloaded from Schwab, and the transfers that should have been pending, were, and appeared in the "dummy" data file.
    I then did a Validate/Repair of my regular-current file....some errors found, but it still would not register the IRA to 2nd Roth IRA transfers. Then did what you suggested earlier, BK, and deactivated/reactivated the two affected accounts....and THAT WORKED!
    I don't rely on the tax implications for my final tax prep, but rather on Schwab year end data, so I am not going to get too concerned about gains/tax implications from my IRA conversions as reckoned in Quicken.
    Thanks for the help!
  • BK
    BK Member ✭✭✭✭
    @Richard Roberts , I am happy to hear that things worked for you and the reactivation cleared the issue.  I too do not use Quicken for any tax purposes and rather reply on the tax documents from my financial institutions.  The Superusers on this community are extremely knowledgeable and I am learning a great deal from them.  Cheers.
    - Q Win Deluxe user since 2010, US Subs R32.12
    - I don't use Sync, Cloud, Mobile, Web, Bill Pay/Mgr, Tax
    - Techie, Win10 Pro x64 20H2
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