Short sales not handled correctly on import

wocruc
wocruc Quicken Windows Subscription Member
edited January 25 in Investing (Windows)

I am using Quicken Classic Subscription version R60.15, Build 27.1.60.15 on a Windows 11 PC

When I download transactions from Schwab, the short sale transactions do not download correctly. The original short sale is downloaded as a deposit to the cash account with no connection to the investment account. No category is included in the transaction.

The buy transactions appear to download correctly, but, they cannot be applied to the short sale, so, the number of shares outstanding is incorrect. Even when a short sale transaction is booked, these "buy" transactions cannot be switched to "cover" transactions because an error message says, there are not shares to cover. The error message comes up even if you specify specific lots.

To fix it, both the deposit that should have been a short sale and the buy transactions must be deleted and re-entered manually.

Comments

  • Tom Young
    Tom Young Quicken Windows Subscription SuperUser ✭✭✭✭✭

    "The original short sale is downloaded as a deposit to the cash account with no connection to the investment account. "

    Do you have a Schwab Bank Account with Schwab and in Quicken? Is that where the cash associated with the short is going, in Quicken?

    If that's the case that's very, very odd as the Account Number associated with the bank account is completely different than the Account Number associated with the brokerage account, so it just doesn't seem possible.

    If you do have a Schwab bank account at Schwab and in Quicken, have you set the Bank Account as "linked" in Quicken? (Grasping at straws here.) Even if it is linked I'd expect the transaction to show up in the Investment Account as some sort of "ShtSellX" transaction.

    If you look at your Transaction History screen for the brokerage account at Schwab, what is the "Action" shown there for the short sale?

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