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Transactions tab is grayed out in IRA account

roadsterfoodie

For all of my investment accounts - 401k, equities, annuities - there have always been 3 active tabs - Dashboard, Portfolio and Transactions. I was able to use all three. With 2 recently created IRA accounts, the Transactions tab is grayed out and inaccessible. I cannot find relevant help content about why this would be.

Also, I funded the IRA account with $10 and now I am seeing $20 - $10 in cash and $10 in a money market fund account (which is correct). As a result, account value is showing twice what it should. What gives?

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Accepted answers

Quicken Kristina

Hello @roadsterfoodie,

Based on your description of the issue, the most likely cause is that those accounts are using Simple tracking. To check this, click on the account to select it, then go to Accounts>Settings…. In the Account Settings window, Details tab, look at the Investment Tracking Method.

Screenshot 2024-10-18 at 10.02.47 AM.png

If it is set to Simple, that is why the Transactions tab is greyed out. Select Detailed (note - you may need to go through the connection process with the financial institution again to change to Detailed tracking).

Please let me know how it goes!

All comments

Quicken Kristina

Hello @roadsterfoodie,

Please let me know how it goes!

roadsterfoodie

Ah that's it! Thank you. I recall when I connected my accounts to Fidelity, I saw a message that said they only support Simple Tracking. Sheesh you'd think with a company as established as Fidelity…

Thanks for the explanation - this was very helpful.

roadsterfoodie

However this leaves the issue of why I have twice the balance in that one IRA account - looks like a duplicate transaction for the $10 I initially funded this IRA just to set it up. That is still a bit odd.

UKR

https://community.quicken.com/discussion/comment/20458257#Comment_20458257

The downloaded Money Market Fund transaction should have been recorded as a purchase of MMF Fund and the amount deducted from the account's cash balance.

But that would only work if you can change your IRA account to Detailed Tracking.

roadsterfoodie

Thanks very much - I think I was able to get this sorted out.

Incidentally, I discovered that there may be a way around Fidelity's supporting only Simple Tracking. I am able to set up a connection to my Fidelity IRA through Quicken but then the transactions tab gets grayed out. If I then go into the Account Settings and switch Investment Tracking Method from Simple to Detailed, it kills the connection that I just made but then I have access to all of the transactions that were downloaded from Fidelity. That certainly saves me the trouble of manually entering everything.

It's a little kludgy but if I just go through setting up the connection every now and then to download transactions and then switch back to Detailed Tracking, I can get the best of both worlds lol. Does anyone else do this? Just curious.

Thanks for your help.

Boatnmaniac

https://community.quicken.com/discussion/comment/20461053#Comment_20461053

Have you confirmed that the transactions in that 401K account (after you switched from Simple Tracking to Complete Tracking) are more than just cash transactions? Simple Tracking supports downloading of cash transactions (i.e., dividends, interest, transfers in/out, etc.) but not securities transactions (i.e., buys, sells, Reinvest Div/Inc, etc.). So, it would be interesting to know if your workaround process actually breaks this Simple Tracking restriction.