Cash transfer recognized erroneosly as income

RobWms1949

Our HSA is held at Elements Financial but investments are held in a linked TD Ameritrade account. I recently transferred a significant amount of cash from TDA back to Elements but Quicken flagged the transfer as income. This was not income but I cannot find a way to correct Quicken. It may have something to do with TDA being an "Investment" account and Elements a "Banking" account but that's just a hypothesis. Suggestions would be appreciated. Thank you!

Tom Young

Explain how "Quicken flagged the transfer as income."  Where are you seeing this - what Report or Dashboard or screen?  Was the transfer actually Categorized as an existing "income" item or is it being reported as a "transfer" in some fashion, (e.g., a "FROM (Name of Account) line in some Income section?

RobWms1949

Hi Tom, thanks for replying. The transfer appears on the "Income & Expense" card on the dashboard for the month of August. I have two monthly transfers from other tax deferred accounts that go into my checking account and they are legitimately being flagged as income. The TDA transfer is being treated in the same manner even though it went into a tax deferred account. Seems like Quicken thinks the transfer went into a taxable bank account. In the Elements account register it is called "Deposit Transfer from Investments" and the category is "TD Ameritrade HSA".

Tom Young

I'll admit that I really don't use any Quicken dashboards/cards/whateveryoucallthem but looking at that particular card I can see no way to customize it, so I don't think it's correctable on the user's side.  I agree that from either a GAAP standpoint or a tax standpoint this transfer should not show up as income. 

I will refer to this post over in the Superuser's lounge pointing out the incorrect programming and you might want to do a brief "chat" with Official Quicken Support just to point out the error too.  Ultimately it's Quicken that has to fix it.

(Quirks like this are one reason I pretty much stock to saved customized Reports if I really want to know what's going on.)

RobWms1949

Thanks for your input, Tom - I appreciate you taking the time to help out. Hopefully the Superusers will have an idea. I'll chat with Official Support - not sure how "brief" it will be :)

UKR

RobWms1949 said:

Thanks for your input, Tom - I appreciate you taking the time to help out. Hopefully the Superusers will have an idea. I'll chat with Official Support - not sure how "brief" it will be

Please do us a favor and attach a snapshot image of the transaction, as shown in both the HSA and the TDA account registers. I'm suspecting that you might see it as Income because it's a transfer out of a tax deferred investment account ... just firing shots in the dark here, listening for an "Ouch!" ...

How to attach image snapshots to Community posts

Sometimes a picture is worth a thousand words …
Can you please capture one or more images of the parts of your Quicken window showing the issue, sensitive information blacked out as necessary to protect your privacy but annotated to describe the situation, and attach the image(s) here?
https://community.quicken.com/discussion/7867159/faq-how-do-i-post-a-screenshot-in-the-community-from-windows

https://community.quicken.com/discussion/7663259/faq-how-do-i-post-a-screenshot-in-the-community-from-a-mac

Please save images to files of file type PNG, JPG, or GIF only. They're easier to work with than PDF files.

RobWms1949

Thanks for the offer to help. I've decided I've spent way too much time on this and don't want to waste any more. The endgame of this transaction was closing the current HSA and transferring it to a new custodian. The easiest thing for me to do now is just delete the existing account and start fresh with the new one. There is no critical data that I need to keep from the old account so I'll just pretend it never existed and start fresh! Thanks again.