Schwab downloading mislabels mutual fund dividend transactions as IntInc.

DRMick
DRMick Member ✭✭
edited December 2021 in Investing (Windows)
Dividend Transactions from Mutual funds are being mislabeled as IntInc instead of LTCapGnDst or STCapGnDst when downloaded.
They appear in the download box as ReinvInt instead of the correct label.
This just started happening after the Nov 16 reauthorization event.

I can correct these manually before accepting, but this is another task I did not have before. I have to go online and manually compare to the Schwab register.
I have found 6 transactions in 3 accounts from 3 different mutual funds so far. But with year end coming this will surely multiply. This makes an invalid Investment Income report.

Comments

  • sonomaron
    sonomaron Member ✭✭
    Same happening to me.
  • gooddog50
    gooddog50 Member ✭✭✭✭
    Same on stock reinvested dividends treated as "buys", adds additional cost to cash total. 
    Quicken since Andrew Tobias "Managing Your Money" V-12 (DOS)
    Windows 10 Pro 64 Bit, Core i7 
    Quicken Premier Subscription
  • DRMick
    DRMick Member ✭✭
    I notice that the broker Schwab may post a dividend transaction in two different ways in their register. It come in as a Dividend and then a Buy as 2 separate transactions. Or as a Reinvest-Dividend as a single transaction. All of the ones I see fail occur with the two transaction event on the same date. For some reason Quicken chooses a Reinvest-income action and puts the dollar amount in the Interest field for these two step broker transactions. .
  • gooddog50
    gooddog50 Member ✭✭✭✭
    DRMick said:
    I notice that the broker Schwab may post a dividend transaction in two different ways in their register. It come in as a Dividend and then a Buy as 2 separate transactions. Or as a Reinvest-Dividend as a single transaction. All of the ones I see fail occur with the two transaction event on the same date. For some reason Quicken chooses a Reinvest-income action and puts the dollar amount in the Interest field for these two step broker transactions. .
    Totally agree, exactly what I've seen so far. Should be really fun as the end of year dividends come rolling in. Lots to correct.  >:)
    Quicken since Andrew Tobias "Managing Your Money" V-12 (DOS)
    Windows 10 Pro 64 Bit, Core i7 
    Quicken Premier Subscription
  • DRMick
    DRMick Member ✭✭
    Mutual funds with DIV, STCG and LTCG transactions get loaded incorrectly into a Action of Reinvest Interest or RtnCap instead the correct boxes of the INC Action. Requires manually logging into the broker website to get the correct amounts, and shares purchased. Quicken used to do this task correctly before the Schwab re-authentication event.
  • jl747
    jl747 SuperUser ✭✭✭✭✭
    edited December 2021
    Make sure you report this problem through Quicken.
    Go to Help > Report a Problem if you haven't do so already.
    See

    Quicken Windows Premier (Subscription) - R37.52 -Windows 10 Pro 21H2

  • Anne Wood
    Anne Wood Member ✭✭
    Reinvested dividend is (1) posting as "ReinvInt" but with no amount AND (2) that same reinvested dividend is posting in a second transaction as "Bought" with a negative cash amount.

    FYI for now I can manually change the "Bought" transaction to "ReinvDiv" and manually delete the ReinvInt.

    I did report this to Quicken-Help-Report a Problem
This discussion has been closed.