USBank investments QFX download makes dividends into "Add Shares" transactions

Josip L.
Josip L. Member
Downloading a QFX file from U.S. Bancorp Investments doesn't identify dividends properly on import into Quicken for Mac. They come out as "Add Shares" transactions which multiply holdings but don't properly record dividends. Is this a malformed USBank QFX file problem or a Quicken QFX interpretation problem?


  • jacobs
    jacobs SuperUser, Mac Beta Beta
    @Josip L. Usually it's hard or impossible for us as end users to know where the problem lies. But in this case, you can look for yourself and see. The QFX file is a plain-text document, so you can open it in TextEdit or Pages. Look for the transaction and it will be apparent what the financial institution is sending. 
    Quicken Mac Subscription • Quicken user since 1993
  • Josip L.
    Josip L. Member
    I already did that. Other institutions send records including <INCOMETYPE>DIV</INCOMETYPE>. USBank QFX doesn't include a comparable record, but it's tricky to interpret QFX. USBank QFX lists <TRNTYPE>CREDIT to <SUBACCTSEC>CASH with amounts, but they aren't explicitly labeled as dividends. Instead, <NAME> lists where it came from (and FITID contains embedded CUSIP). One could deduce that this is a dividend, but that's not what Quicken for Mac does.
  • Josip L.
    Josip L. Member
    Confirmed that this is USBank QFX problem: Quicken, iBank, and Moneydance all interpret dividends as adding shares based on the information downloaded from USBank. I let USBank know, maybe they will fix this technical problem with their QFX files, but I would not hold my breath.

    Downloads used to work fine for decades until we switched to a different account type to make investing easier. Clearly, malformed QFX file is to blame. Until this is fixed, beware.
This discussion has been closed.