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How to handle multiple transactions with Actions of Removed?

Bpie123

Is there a way to accept all Investment transactions for Investment expenses where the shares are just removed. I have accept each transaction manually. This is for my Vanguard.

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Accepted answers

NotACPA

I'd handle it by changing to Fidelity, which doesn't "remove share" to pay fees.

All comments

NotACPA

Where, in your investment account do these txn appear? In the register, or in the "Downloaded Transactions" dialog at the bottom?

Bpie123

When I am applying downloaded transactions they have an action of Removed. I have to accept each one manually and select type of transactions and if average or specific lot.

Sherlock

Bpie123 said:

When I am applying downloaded transactions they have an action of Removed. I have to accept each one manually and select type of transactions and if average or specific lot.

If you haven't already, I suggest you check the Automatic assignment instead of prompting on Accept preference for the account in the Lot Assignment Options window: select Edit > Preferences...

NotACPA

I'd handle it by changing to Fidelity, which doesn't "remove share" to pay fees.

Bpie123

How is changing my account to Fidelity help, Quicken software is the issue not my investment firm.

NotACPA

@Bpie123 VANGUARD is charging those fees, and removing the shares. You switch to Fidelity and you get rid of the fees, and thus the issue goes away.

And many Vanguard funds can be bought thru Fidelity also.

q_lurker

FWIW, Vanguard doesn’t charge me any fees. May be as much an account or portfolio size issue.

Chris_QPW

I'm no longer with Vanguard (for other reasons), but in all the time I used them I never had any case where they removed shares to pay for fees. The fees are either built into the fund or charged upfront. And in fact, there are no commission fees anymore. Of course, I was doing all the trading, maybe if one signed up for an advisor to do it for you, there might be fees and work by removing shares.

Bpie123

Since my employer is funding the 401K I just can't move it. I still think it is an issue with Quicken not being able to remove shares from downloaded transactions.

Chris_QPW

Oh, it being a 401K is different. I never had a 401K at Vanguard.

Jim_Harman

Let's take a step back and work on your original question. You have a 401(k) account administered by Vanguard and you are charged a fee every quarter. This is not Vanguard's fault, it is a decision by your employer to pass on some of the costs of running the plan to the employees.

To pay the fees, several Removed transactions are downloaded and you would like to accept them all at once rather than having to specify which shares to remove for each transaction.

One thing you can do is follow the approach recommended by @Sherlock above. Go to Edit > Preferences > Downloaded Transactions and click on Settings next to Lot assignments after investment download.

I find the prompts on the next screen quite confusing. Select the 401(k) account and check the box next to Automatic assignment. Leave the assignment selection below set to Quicken default. This will set the account so that all partial sales of securities use the default First In First Out (FIFO) method to select the shares to sell.

Now when these transactions are downloaded, you should be able to accept them one at a time or click Accept All and you will not have to answer further prompts about which shares to sell.

If you still get prompts about specifying shares or using average cost for a security, go to Tools > Security list and select the security. Click on Edit Details and un-check the Use average cost box.

Be sure to back up your data file before trying this, in case the result is not what you expected.

Please post back and let us know how it goes.

volvogirl

You do have to account for the removed shares. That is a sell to pay the fees.

I have Quicken 2013 so I manually enter everything.

This is how I manually enter my monthly 401k fees which are less than 1 dollar……
1. Do a SELL
2. Enter: Date, Name, # of Shares, Price
3. Change the Sale Amount to the amount of the Fee then TAB back to Lots
Recalculate box should open - Choose Price - OK
4. Then TAB back to Commission and put the Fee into the Commission Box
Sale Amount should change to zero!

[Deleted User]

@Bpie123 - I've personally never heard of a 401(k) provider or custodian to take fees by share removal by participant. Nevertheless, @Sherlock has given you a solution where you wouldn't need to accept each transaction separately. I wouldn't say it is an issue with Quicken.