Quicken is incorrectly treating Fidelity cap gains as dividends for non-IRA account

leishirsute
leishirsute Quicken Windows Subscription Member ✭✭✭✭
in Download, Add/Update Accounts (Windows)

Fidelity activity has always presented cap gains in its transaction activity as Type=Dividend (per Fidelity support) with the Description showing Long or Short Term Cap gain. Somehow, Quicken's DC connection to Fidelity was able to correctly determine an Action of long or short term cap gain from this. EWC+ has lost that ability and is treating cap gains distribution as Dividends.

I submitted a Problem Report to Quicken after speaking to Fidelity support about this.

Here's an example of what Fidelity shows in its transaction Activity:

image.png

and here's what Quicken downloaded:

image.png

With the DC connection, Quicken correctly set the Action to be CGLong or CGShort accordingly.

Any suggestion to get Quicken to properly set the Action for Fidelity Capital Gains?

Deluxe R65.17, Windows 11 Pro

Answers

  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭

    In 2 different IRA accounts, mine & wife's, I'm seeing the same thing.

    Also applies to Select Consumer Discretionary that also paid a CGLong on 11/11, but was reported as a Div.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • mrzookie
    mrzookie Member ✭✭✭✭

    Today I received my first CG txn since migrating to EWC+ and I can confirm the same problem. In my case it happened with Fidelity Large Cap Stock FLCSX. Interesting that all the reports here are with Fidelity branded funds, although I suspect the problem will occur with all brands. I submitted a Problem Report.

    I'm running r64.25. Is anyone seeing the same with 64.35?

  • leishirsute
    leishirsute Quicken Windows Subscription Member ✭✭✭✭
    edited December 6

    I've updated to R65.17 and this problem still exists. Left side of pic is Fidelity website. Right side is Quicken download. I submitted a problem report.

    image.png

    It is also happening for IRA accounts:

    image.png

    Deluxe R65.17, Windows 11 Pro

  • leishirsute
    leishirsute Quicken Windows Subscription Member ✭✭✭✭
    edited December 13

    Latest download this morning correctly designated Action of ReinvLG and CGLong for Fidelity mutual funds in my Roth Account.

    There appears to be improvement (possible resolution) with this issue.

    Deluxe R65.17, Windows 11 Pro

  • leishirsute
    leishirsute Quicken Windows Subscription Member ✭✭✭✭
    edited December 20

    Update: Quicken is still treating downloaded Short Term Capital Gains Distribution as Action=Div instead of CGshort for Fidelity.

    Long Term Capital Gains Distribution had the correct Action=CGLong in Quicken.

    This used to work correctly with Fidelity DC connection.

    Deluxe R65.17, Windows 11 Pro

  • mrzookie
    mrzookie Member ✭✭✭✭
    edited December 21
    https://community.quicken.com/discussion/comment/20528499#Comment_20528499

    I'm seeing the same problem in both IRA and taxable accounts. Quicken fixed this problem with ML downloads earlier this week (was happening with both LT and ST CGs). I was hoping they'd fix Fidelity before CG season is over.

  • Jim_Harman
    Jim_Harman Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited December 21

    I see the same issue with Long and Short term Capital Gains distributions in all account types at Vanguard.

    The workaround is to accept the downloaded transactions and then edit them to be CGLong, CGShort, ReinvLg, or ReinvSh. If you enter the correct transactions before accepting the downloads, they will not match and you must delete the downloads and mark the manually entered transactions as Cleared.

    QWin Premier subscription
  • NotACPA
    NotACPA Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited December 21

    I had CGLong transactions download correctly, from Fidelity, on 12/12 and 12/19. 3 different IRA accounts, 5 total transactions.

    Also, in another file for a club where I'm the Treasurer, a CGShort and a CGLong correctly downloaded on 12/5 and a CGLong correctly downloaded on 12/19.

    All from Fidelity using EWC+

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

  • leishirsute
    leishirsute Quicken Windows Subscription Member ✭✭✭✭

    @NotACPA That's promising news.

    Deluxe R65.17, Windows 11 Pro

Categories