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Losses as told by Quicken

Bob.

I am doing year end cleanup and got great help with first two issues. This is the last.

Quicken reports losses of 28,000 YTD. I cannot fathom how this is possible. Maybe 9,800 is close to accurate.

Detail behind that only shows gains of maybe 6,000. No losses on the popup.

How can I find out what they are talking about? :) It does not show as anything obvious in either of my Fidelity accounts now the Investiong tab, though the loss I do know is no longer on that tab as it was sold.

Baffled how to track this one down.

Thanks.

~Bob

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q_lurker

I don’t know what is behind the Alert, but I’d start chasing it with a Capital Gains report

Bob.

Thanks. I did. Only shows the 9.5K I am aware of.

Boatnmaniac

I think I would check to see if the Investment Income report provides the same or different results.

Bob.

That's why the alert has me so confused! I cannot imagine where that data is coming from.

Boatnmaniac

If you have both taxable brokerage and tax deferred/exempt retirement investment accounts I would not expect to see the Investment Income report and the Cap Gains report showing the same data. This is because the Investment Income report will include data from both types of accounts but the Cap Gains report will include only data from the taxable accounts, not the tax deferred/exempt retirement accounts.

The next step I would take is to customize the Investment Income report to include only the taxable brokerage accounts. Make sure all Securities (including hidden ones), all Security Types and all Investing Goals are selected in the Customization. Are you now seeing the $28K loss in this report…and does that match your Cap Gains report (and Tax Planner)?

If so, it means you should have about an $18.2K gain in your retirement accounts….which will not show up in Tax Planner or in the Cap Gains report. This would be the difference between the $28K tax related loss and the $9.8K total loss…a difference of an $18.2K gain. You can confirm that by customizing the Investment Income report again to include only your retirement accounts.

Bob.

I'll have to sort through that tomorrow on coffee :)

I do have an IRA converted from 401K years ago and a small brokerage account. Brokerage has a lifetime gain of 9200 and the aformentioned loss of 9500. Not sure how a gain and a loss can total for a larger loss as my first read of you message seems to say.

The Retirement has no losses. Just gains and has an RMD taken out each year. No contributions in 6 years.

Very possible the Retirment has gains of 18K or more. Could be 28K as a matter of fact. Let's assume it does. How does that gain and a brokerage loss equal a larger loss?

Will reread and test tomorrow. Appreciate your replies always Boatnmaniac.

Bob.

Good morning :)

"The next step I would take is to customize the Investment Income report
to include only the taxable brokerage accounts. Make sure all Securities
(including hidden ones), all Security Types and all Investing Goals are
selected in the Customization. Are you now seeing the $28K loss in this
report…and does that match your Cap Gains report (and Tax Planner)?"

OK, customized Investment Income. Shows about 8800.00. Cap Gains showws the 9500.00. I can explain that difference. No worries. Tax show based on 8800.00

Nothing to indicate any clue to @28K Alert.

Now, to be sure, when you say "taxable brokerage accounts" you are NOT including those gains on funds in the IRA which will become taxable when sold and withdrawn one day. My above is only the Borkerage Account I hold self funded.

Boatnmaniac

Yes, "taxable brokerage accounts" are not tax deferred IRA accounts so the gains/losses on the IRA accounts should not be included in the customized Investment Income report when comparing that to the Cap Gains report. (Cap Gains report by default does not include any tax deferred nor tax exempt accounts transactions.) Then these two reports should be in agreement with each other. (You say you can explain the difference you are seeing between the two so that is good.)

I'm kind of at a loss on this 28K loss. It would really be helpful to be able to see the transactions data behind that $28K. I haven't been able to find anyway to see what kinds of data is taken into account in calculating that Alert.

I can only think of a couple of other possibilities that might be driving this issue.:

Maybe there is some account balancing transaction(s) or some asset depreciation transaction(s) at play here? If so, it should be looked at closely to see if that loss is legitimate and/or if the category tax line item association is correct.
Is it possible that there is something that is including market value changes on securities you still hold?
Does that $28K take into account loss carryover from 2022?

Bob.

I'm at a loss as well. It says YTD, so I ASSUME no carryover. And Cap Gains / Investment income really are the same. Brokerage account agrees with online Fidelity.

You got me thinkinking do looked at 2022 reports.Had a gain of a little over 17K but even adding that to the loss this year nowhere near the 28K.

I doubt this helps, but maybe?

Let me know if you have more thoughts. Maybe it is a bug!

Happy New Year !

q_lurker

Maybe turn off that alert, then turn it back on?

Chris_QPW

For what it is worth, I don't think that alert is "dynamic". I tried turning on these alerts and didn't get anything, so I think they only ger triggered at certain dates, in this case 12/1/2023.

Note that if you are looking for this that date is important. You would be looking for what it is today.