Incorrect Action / Categorization of Interest on Fidelity Debt Investments

Question

I have noticed an issue with how transactions are downloaded from Fidelity for interest received on debt investments, such as subordinated debt and senior notes. These transactions are currently being shown as a "DEPOSIT" and are categorized as "Miscellaneous."

In contrast, the same securities downloaded from ETrade are correctly shown with "INTINC" as the action and categorized as "INCOME (DIV, INT, ETC.)," which is the expected treatment for such transactions.

This discrepancy has been ongoing for some time. Previously, transactions from Fidelity were recorded as expected, but now they require manual correction. Could you please clarify if this is a bug or issue within Quicken? Alternatively, is there something I can do to ensure these transactions are recorded correctly without needing manual adjustments each time?

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bobandsherry82 · Answer

Sorry for the delay, but I've been traveling and just back at my desk.  For "Financial Institutions" it shows "Fidelity Investments" and for "Transaction Download" it is "Yes (Direct Connect).

NotACPA · Answer

Fidelity has multiple  FI names in Q. When you do TOOLS, Account List what shows in the "Financial Institution" and "Transaction  Download" columns for your Fidelity accts?