Fidelity FDRXX should not be reinvested dividend income

Brad L Vandermoon

FDRXX is a core position option that is treated as cash; however, downloaded transactions come down as "reinvested dividend income" to buy FDRXX. Since these transactions are not classified correctly, the cash balance at Fidelity does not reflect the cash balance in the quicken account. And, i must manually change these transactions to "dividend income" in quicken.

Brad L Vandermoon

@Quicken Kristina @Quicken Anja please add the above to the list of issues you folks are working on with Fidelity.

Quicken Kristina

Hello @Brad L Vandermoon,

Thank you for letting us know you're seeing this issue. For assistance with this issue, please reach out to Quicken Support directly as they have access to tools we can't access on the Community and they're able to escalate the issue as needed. The Quicken Support phone number can be found through this link here. Phone support is available from 5:00 am PT to 5:00 pm PT, Monday through Friday. Note - Support will be closed tomorrow, 19 Jan 26, in observance of Martin Luther King Jr. Day.

I apologize that I could not be of more assistance! 

Brad L Vandermoon

FDRXX is still coming down as reinvested dividend and s/b dividend income. Is anyone going to try to fix this stuff? @Quicken Kristina @Quicken Alyssa @Quicken Anja

jacobs

@Brad L Vandermoon Did you contact Quicken Support about this issue after @Quicken Kristina advised you to do so two weeks ago? What did they say? Did they do a screen share with you to document what you're seeing? Did they give you a ticket number which can be tracked?

Jon

I switched one of my IRA accounts over to having FDRXX as core. Too late for the January dividend but we'll see what happens at the end of February.

Jon

My FDRXX dividend in my IRA downloaded today and it came in as a Dividend Income transaction, so that was correct. Unfortunately the SPAXX dividend from before I switched core to FDRXX also came in as a Dividend Income transaction; that one should have been a Reinvest Dividend transaction instead since SPAXX is not now the core position so that dividend should not be adding to my cash balance.

A different account has cash in a MMF that cannot be core and that came in as a Reinvest Dividend transaction as expected. It seems like right now Fidelity's Quicken download is treating any dividend from a MMF that could be core as if it is core without checking to see which one you actually have selected.

Brad L Vandermoon

FDRXX is now coming down (correctly) as a dividend income transaction. All Fidelity core positions appear to be correct for me now. Thanks.

[Edited - Readability]

Quicken Kristina

Thank you for the follow-up,

I'm glad to hear that your core positions are correct.

Thank you!