How to fix Income and Expense report? It shows MM sale as Income

mikek753b
mikek753b Member ✭✭✭✭
in Reports (Windows)

hi all,

The Income and Expense report shows Money Market Fund Sale as Income for the whole transaction amount. While it should not be any Income at all, as the base is $1.00 and the sale at the same $1.00

In my case I pay taxes and I use MM for that mater from my Brokerage account.
I expect to see only Expense for that period.

How I can fix the report that Dashboard Card also shows it correctly?

Thanks

Best Regards
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Comments

  • BK
    BK Quicken Windows Subscription Member ✭✭✭✭
    edited February 17

    After you sold the fund (with zero gain/loss), did you transfer the cash amount to a banking account? If yes, it is probably showing the transfer. Kinda' confusing. To fix it click the gear icon to customize the report, go to the Advanced tab and for the Transfers select Exclude all.

    If you didn't transfer it, then I don't understand why it is showing it as it does not show it for me. What version/release of Quicken are you running?

    - Q Win Deluxe user since 2010, US Subscription
    - I don't use Cloud Sync, Mobile & Web, Bill Pay

  • mikek753b
    mikek753b Member ✭✭✭✭

    No, I didn't transfer, the Brokerage account is also the same Checking account. Its two in one at Schwab for me.

    In my latest Quicken for Windows version that is Investment account with separate cash tracking account. My Quicken has 2 accounts, where MM sale is recorded as Sold in Schwab Investment and like a transfer in the linked Cash account.

    I can't find any Advanced Tab for the HOME Income and Expense card, I only can enable or disable what accounts to use for the card.

    Yes I can modify and save my new Report, but that has 0 impact to the HOME Income and Expense card

    Best Regards
  • BK
    BK Quicken Windows Subscription Member ✭✭✭✭

    Yes I can modify and save my new Report, but that has 0 impact to the HOME Income and Expense card

    I was focusing on the report and missed that you wanted the card to change as well. You are right - the dashboard card remains unchanged unfortunately. Sorry couldn't help.

    - Q Win Deluxe user since 2010, US Subscription
    - I don't use Cloud Sync, Mobile & Web, Bill Pay

  • mikek753b
    mikek753b Member ✭✭✭✭

    @Quicken Anja , @Quicken Kristina
    any help or guidance for this matter? pls

    Best Regards
  • BK
    BK Quicken Windows Subscription Member ✭✭✭✭

    To summarize this post after some testing, a cash transfer from a brokerage account to a banking account shows up as income in a subset of Income & Expense reports. Because those reports' Advanced section has the setting of Transfers=Exclude Internal (instead of Exclude All).

    • The Income & Expense comparison reports in the Reports > Comparison section have the advanced setting of Transfers=Exclude All
    • The Spending > Income/Expense by category or payee have the advanced setting of Transfers=Exclude Internal.
    • The one on the Dashboard card does not show the Advanced tab - so my guess is that it is probably set to Transfers=Exclude Internal behind the scene.

    While I too share OP's question of how to fix this, I am also curious why should such transfer ever be treated as income and therefore is this default setting intentional or an oversight?

    I'd like to ask the SuperUsers to review this post and add any comments please. I hope they don't mind to tag the first few that popped up in my head @Jim_Harman @NotACPA @Tom Young (don't want to bother many and welcome everyone) Thank you!

    - Q Win Deluxe user since 2010, US Subscription
    - I don't use Cloud Sync, Mobile & Web, Bill Pay

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