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Available Margin is Showing as Cash in American Century Brokerage Investments
I am trying use Simple Tracking (positions only) for American Century brokerage funds. Quicken appears to count the marginable value of these funds as cash. The cash amount is in addition to the market value of the shares and shows as a separate cash line under portfolio holdings. I have called American Century about this, and they informed me that they do classify marginable portions of funds as "available cash" internally. However, these amounts do not show up as cash on their statements or online. No margin investment loans have been taken. Quicken apparently takes the classification and counts it as literal cash in addition to the value of the fund. Thus, simple tracking displays a total value that is wrong (too large) by multiple zeros. I have tried converting the Quicken account from simple positions to detailed and back. I have also tried creating a new account from scratch and downloading the investments. Neither of these strategies worked. They both resulted in the same wildly inflated total amount with margin counted as actual cash. Has anyone else run in to this issue? Is there any solution other than to discontinue use of Quicken to track these investments? Thank you.
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