Issues with FZDXX Money Market and Cash in Fidelity Investment Accounts

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This discussion was created from comments split from: Issues with FZDXX Money Market and Cash in Fidelity Investment Accounts.

es114

FZDXX still a problem here. My Fidelity investment account shows a negative balance. The holdings in that investment account indicate a negative amount for FZDXX and the great majority as cash. The issue is the cash is in FZDXX. I am tired of creating a workaround to balance the checking account.

Quicken Laura

Hi @es114 ,

The issue we are currently addressing affects Mac users. For Windows, there is an option to specify how Money Market funds are treated.

You can check your global settings by following these steps:

1. Go to Edit > Preferences
2. In the left pane, select Downloaded transactions.
3. Under After downloading transactions, select Never interpret downloaded Money Market funds as cash.
4. Select OK.

If you would like to edit individual Money Market funds, you may find this Quicken article helpful: https://info.quicken.com/win/track-cash-in-an-investment-account

Please feel free to reach out if you have any additional questions.

es114

You miss my point. I already have FZDXX in my investment account to be treated as cash, which is what I prefer.

I am now getting negative downloads into that same account as a separate holding callled FZDXX. How can this be?

Quicken Laura

@es114,

Thank you for clarifying. I have a few additional questions to help address the issue more effectively:

1. You mentioned that negative downloads are appearing in the same account as a separate holding. Are they displayed as sells, buys, or another type of action?
2. In the Quicken Portfolio view, do you see the FZDXX security as part of your holdings?
3. Do you have any placeholders for this security? If so, please delete the one related to the affected security (make sure to save a backup first).
4. How long have you been experiencing this issue?

Your answers will help us determine the best next steps.

es114

1. There is no transaction. 2 not sure of your question. FZDXX is listed as a security in the security list 3 no placeholders 4 this issue started over the weekend. But I have had to reconcile the investment account for months.
   

Quicken Laura

Hi @es114,

Thank you for providing more information. Based on your description, it appears Quicken may be treating FZDXX in two ways at the same time: both as cash and as a separate security holding. When this happens, it can result in a negative position even though no transactions are visible.

To help narrow this down, please check the following:

1. Security List check
Since FZDXX is already set to be treated as cash, please check whether there are any duplicate or slightly different entries for FZDXX in your Security List. Occasionally, a second security entry can be created during downloads.

2. Holdings review
In your account holdings, if you see FZDXX listed with a negative balance, this typically indicates a mismatch between how Fidelity is sending the data and how Quicken is interpreting it.

To review your holdings:

• Open the account in question
• Click Holdings in the upper-left corner
• Review the list for FZDXX

3. Possible correction step
If the negative position is clearly a duplicate or incorrect tracking entry (and not tied to actual transactions), you may be able to resolve it by adjusting the security position so it no longer appears as a separate holding, while ensuring your cash balance remains correct. Please make sure to review the account balance carefully before making any adjustments.

4. Backup option
If the issue started recently (over the weekend), restoring a backup from before the issue began may also be the quickest way to return to a clean state.

Please let me know what you find, and we can go from there.

es114

In the security list I find 2 security names for FZDXX. One is Fidelity Money Market Fund - Premium Class and the other is FIDELITY MMKT PREMIUM CLASS. Each has its own cusip #. The first one is 31617H102 and the second 31617H805.

es114

Also the negative amount in the investment account offsets the overage in the checking account. I can enter a boughtX transaction in the investment account to reconcile the account but that is just a patch.

Quicken Laura

@es114,

Thank you for checking that; that detail about the two separate FZDXX securities with different CUSIPs is very helpful.

Quicken is treating those as two different securities, even though they represent the same money market fund. This can cause exactly the behavior you’re seeing: one entry holding the cash value, while the other shows a negative position with no visible transactions.

To resolve this, you’ll want to consolidate them into a single security:

1. Review which one is actively used
Check your investment account holdings to see which version of FZDXX is tied to your current balance.

2. Remove or merge the duplicate
If one of the securities is not actively used (or only tied to the incorrect negative balance), you can:

• Edit or delete the unused security from the Security List, or
• Replace it in transactions (if any exist) with the correct one

3. Reconcile the position
Once only one FZDXX security remains, Quicken should no longer split the balance between “cash” and a separate holding.

After making these changes, run an update again to confirm the issue does not return.

I would recommend making a backup before proceeding, just in case.

Let me know what you find or if you’d like help in any of the steps provided.

es114

Unfortunately, both ae used quite a bit. I will try to change the one that has the incorrect cusip. Will have to go through each transaction.

Quicken Laura

Sounds good.

Please feel free to reach out if you have any additional questions!

es114

Completed changing FZDXX to just one security. No change in the investment or checking side. Still a substantial negative in investment. Also found many transactions in another account with the same problem.

Quicken Laura

Hi @es114,

Given that the issue is now affecting multiple accounts and the adjustments to the FZDXX security did not change the balances, it suggests the problem is likely rooted deeper in the transaction history or download interpretation rather than a single security setup issue.

At this point, restoring a backup from before the weekend (when this began) would be a reasonable next step and is often the quickest way to return the file to a clean and consistent state.

Before restoring, please make sure:

• The backup predates when the issue first appeared
• You save a backup of your current file as an additional safeguard

Please let me know how it goes!