In Quicken Windows there is a new checkbox when entering a dividend that allows you to mark it as a Qualified Dividend. I suspect that this is a purely manual entry and you will not get this from any downloaded transaction. Is this correct?
If the underlying security in Security Details is checked as a qualified dividend stock, future downloaded dividends for the stock will be assigned as qualified dividends.
Downloads accepted prior to the security QDI assignment have to be edited manually.
That sounds like I might be right that this a purely Quicken thing. As in there isn't anything in the download that says "this dividend is qualified". As in one shouldn't expect that given a certain security one download of a dividend might be qualified and another not.
Do I have that right, do you think?
@markus1957 Is this also true if you download a dividend via a QIF for a stock security that is coded for qualified dividends? There is no coding for a qualified dividend in the file syntax. But from what I hear you saying is that Quicken will automatically apply the "qualified" to the dividend if the security is marked as such? If so, it would seem like the designation of qualified dividend comes from Quicken coding rather than anything in any type of download file.
@Chris_QPW sorry for interjecting here. I've been thinking about how it all works.
Yes, I believe you have that correct.
It's a Quicken process within the "accept" workflow driven by the user manually assigning QDI status to the stock. It's not based on information in the FI download file.
I can't speak to a QIF because that is a different animal with a different import process.
I would expect a web connect qfx manual download and import to behave like the OSU direct connect process, but I have not tested that.
I asked about QIF downloads because there was another post where the user indicated that they were able to download qualified dividends from a QIF file. My answer to him was a bit skeptical because I didn't think that if there wasn't any coding in the file that designated "qualified" so I wasnt sure if it was possible. But, from what you are saying, it sounds like the designation of "qualified" comes from Quicken coding and interrogation process rather than the file itself..
I'm actually here because a person had just this kind of query about what could be done for imports using ImportQIF.
I have already checked out that QIF doesn't have the syntax to support this.
I was wondering about other formats like OFX/QFX/FDX. I can't check FDX (Express Web Connect +) because it isn't an open standard, but OFX/QFX also doesn't have any syntax for this.
So, I'm leaning towards it isn't possible even with FDX/Express Web Connect +, but even if it did have it, the financial institution would have to code for it and so would Quicken, so I doubt it especially since from what I have seen in Chase and Fidelity, they don't even make sure determinations before the end of the year.
