Some Schwab transactions are NOT getting downloaded

Question

This has been happening for over 4 months.

When I move some positions from my IRA to Roth IRA account (i.e. doing a ROTH conversion), the transactions (Removed from IRA and Added to Roth IRA) are NOT getting downloaded. No issues with other transactions.

I repoted this on this forum a few weeks ago and I just noticed it was closed with no comments. Weird.

Murali Narayanan · Answer

Thanks. Will check out the link. I was planning to "sell" the stock in the IRA account at a sale price of $0 thus not impacting the cash in the IRA account and "buy" the same stock for the price at which the conversion happened and "adjust" the cash as a misc expense. But I realize, if I did that, it will impact the net worth.

Net: "Remove" from IRA and "Add" to Roth IRA seems to be the right thing to do. Will continue to do that manually until the download issue gets resolved.

Good/insightful discussion. Thanks to all of you.

Jim_Harman · Answer

This is somewhat unrelated to the transactions not being downloaded, but for a Roth conversion in addition to recording a sale of the shares in the traditional account and transferring the cash, you need to move the cash through a taxable account in Quicken. If you don't do this, the tax implications of the conversion will not be recorded correctly. See this Idea post for more info.

https://community.quicken.com/discussion/7864626/improve-handling-of-ira-distributions-including-qcds-and-roth-conversions

Murali Narayanan · Answer

Thanks for good comments from both Tom and q_lurker. Here are my responses:

* I already have an IRA acct and a Roth IRA account. When I do a conversion (either from schwab.com or calling Schwab), the position gets moved from the IRA to Roth IRA. The price of the stock times the number of transferred shares gets reported as income. Until a few months ago, when I downloaded the transactions, they were "Removed" from the IRA account and "Added" to the ROTH account. I do have to manually change the price after the transfer into the ROTH IRA account so that my income calculations are correct at tax time. Since the big schwab download fiasco a few months back, Quicken no longer downloads these account transfers.

* q_lurker's suggestion is an excellent one. I will manually "sell" the position in IRA and "buy" the same position in my ROTH IRA.

* A related issue that I submitted to Quicken community: When I create an investment transaction report with a filter based on the action "Added", any transaction post 8/1/2022 don't show up. Totally bizarre.