Features That Stopped Working With Schwab Downloads

Daffy Duck
Daffy Duck Member ✭✭
edited May 2022 in Investing (Mac)
Since the new interface with Schwab I have observed the following aspects of Quicken no longer working correctly:
1.) Quicken does not seem to be matching transactions that have already been entered manually. Usually my manual transaction may have a slightly different description and/or may include a transfer link. In the past Quicken was extremely good at matching these transactions.
2.) On distributions from Mutual Funds Quicken is interpreting them as "Return of Capital" when they should be Long Term Capital Gain or Short Term Capital Gain. I am told by Schwab that what Quicken receives is the same information that I see on the History Screen when I am looking at my account on the Schwab Website. If that is the case, the downloaded information would be saying Return of Capital, but would say Long Term Capital Gain or Short term Capital Gain.


  • Daffy Duck
    Daffy Duck Member ✭✭
    One item I forgot in my original post: When I added an account and went to match it up to my Quicken account, As I went through the Quicken/Schwab Portal the list of my accounts and I return to Quicken to match the Schwab Account to the corresponding Quicken Schwab account Quicken has shuffled some of the previously established links and I had to rest most of them
  • Daffy Duck
    Daffy Duck Member ✭✭
    I have also noticed that Quicken is no longer picking up cash transactions between Schwab Accounts.
  • lharrismd1
    lharrismd1 Member ✭✭
    In addition to categorizing both long and short term gains as miscellaneous now, we can no longer sort the downloaded transactions for Schwab. This means that we have to hunt through the list for the transactions with errors so that we can manually fix them one by one. Each reinvestment of gains has become two transactions, one miscellaneous cash, and one purchase. Can only imagine what this will do to people's taxes. And the pain of not being able to sort downloads by type or amount or description after months of no downloads at all is not a good combination.
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