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Reinvint action in brokerage account not working

Diana

I am cleaning up my HISA transactions in my brokerage account for last year. I tried to follow the instructions that I found on this community forum to use the Reinvint (reinvest interest income) but when I entered the transaction quicken changed it from Reinvint to the dividends version of reinvest - Reinvdiv. I tried a few times and the HISA interest was showing up in the investment income report as dividends.

To compensate for that, I then tried to enter the amount as simply interest (Intinc), logged that, and then changed the Action from straight up IntInc back to Reinvint. And that worked!

Another bug.

Note: I am using Quicken Classic Deluxe - Canadian Version

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Comments

Tom Young

If "HISA" is a ticker symbol for the High Interest Savings Account EFT then having this reported as a dividend is legally correct, in that an ETF - even one where it's only revenue is considered "interest" - DOES issue "dividends", not "interest."

Diana

@Tom Young Thanks. You gave me a clue to the solution. I had these listed as stocks in the security details. When I changed the security detail type from "Stock" to "mutual fund" I was able to enter the monthly interest correctly as Reinvint as I needed.

I'm in Canada using Quicken Canadian Version. I've been using TDB8150 and RBF2010 and both pay interest. Technically, these are ISAs - Investment Savings Accounts and only pay interest (not dividends). Both are bought as though they are Mutual funds and allow you to reinvest the interest at the end of each month. So classifying them as mutual funds does make sense and they are handled correctly now.

Again Thanks!