tag:infinitekind.tenderapp.com,2009-01-14:/discussions/online-banking/25335-schwab-download-duplication-reinvested-dividend-comes-across-as-miscinc-buy-and-not-divreinvestInfinite Kind: Discussion 2023-04-12T06:20:37Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/574467422023-01-06T01:19:44Z2023-01-06T13:03:04ZSchwab download duplication - reinvested dividend comes across as MiscInc + Buy and not DivReinvest<div><p>It is also possibly the way Schwab are presenting the data to Plaid. I do not think anyone from Moneydance would know what is happening, I do not think anything could be realistically done at the Moneydance software level.</p>
<p>DivReinvest is really just two transactions combined into one - a Dividend and a Buy. As MiscInc internally in MD works the same way as Div then combining a MiscInc and a Buy presents no fundamental issue as to accurately recording the transaction.</p>
<p>Given this I do not think I would be overly concerned.</p></div>dwgtag:infinitekind.tenderapp.com,2009-01-14:Comment/574467422023-01-06T01:37:01Z2023-01-06T13:03:04ZSchwab download duplication - reinvested dividend comes across as MiscInc + Buy and not DivReinvest<div><p>just a user - what you see is what Schwab provides, so there is nothing to fix.</p>
<p>I just accept that there are two items whenever what you describe occurs. Schwab does name it differently on the website, but for me there are still two offsetting transactions, they just name it differently on the website.</p></div>dtdtag:infinitekind.tenderapp.com,2009-01-14:Comment/574467422023-01-06T13:00:11Z2023-04-12T06:20:37ZSchwab download duplication - reinvested dividend comes across as MiscInc + Buy and not DivReinvest<div><p>Hey dtd...thx for your comments.</p>
<p>I'm not sure if we can say it's a Schwab thing since when I use Quicken<br>
(I'm in the middle of desperately trying to migrate off of that) it comes across as a single dividend reinvestment transaction.</p>
<p>Yeah, from a shares POV Misc Inc + Buy in MD works... but it's not as<br>
"clean" as it could be (especially if MD has the DivReinvest function already available). From a tax POV I think it's clearer what a DivReinvest<br>
is versus MiscInc (would the latter also be used if I transfer in $$ from<br>
another account?).</p>
<p>Again depending on the schema maybe there's details that MD could use to<br>
combine the two transactions into one? Agreed not a desperate need but<br>
certainly nice to have if possible.</p></div>gbonawitztag:infinitekind.tenderapp.com,2009-01-14:Comment/574467422023-01-06T16:22:04Z2023-01-06T16:22:05ZSchwab download duplication - reinvested dividend comes across as MiscInc + Buy and not DivReinvest<div><p>Looking at this some more on the Schwab site (December is rough to examine because there's so many EOY transactions)</p>
<p>I actually DO see two separate transactions for each logical reinvestment... so on one hand I guess I better understand why MD is doing what it's doing.</p>
<p>When I download in Quicken it ultimately comes across as one transaction... so I'm hoping there's a way for MD to eventually do the same thing wih the data that Plaid makes avaialble.</p></div>gbonawitztag:infinitekind.tenderapp.com,2009-01-14:Comment/574467422023-01-06T21:51:30Z2023-01-06T21:53:31ZSchwab download duplication - reinvested dividend comes across as MiscInc + Buy and not DivReinvest<div><p>just a user - Quicken does a lot of strange "non accounting things". Like letting you place as a category the account itself - this is simply a strange way to "create or destroy" money. MD is more precise - you can't destroy or create money, as it violates accounting principles.</p>
<p>If you are trying to move from Quicken to Moneydance via a QIF file, you will find that particular issue in MD's creation of duplicate accounts: e.g. ACCOUNT1 and ACCOUNT1X to accommodate what Quicken did and Moneydance fit it in with accounting principles, because they needed to do SOMETHING about Quicken's actions.</p>
<p>MD chooses to accept the bank data and not to massage it, as I think you can imagine, some people would complain, "It doesn't match the bank entries!"</p></div>dtdtag:infinitekind.tenderapp.com,2009-01-14:Comment/574467422023-01-07T00:51:42Z2023-01-07T00:51:42ZSchwab download duplication - reinvested dividend comes across as MiscInc + Buy and not DivReinvest<div><p>Lol...yes I've been dealing with many "X" files as part of the migration.</p></div>gbonawitztag:infinitekind.tenderapp.com,2009-01-14:Comment/574467422023-01-07T01:32:52Z2023-01-07T01:32:52ZSchwab download duplication - reinvested dividend comes across as MiscInc + Buy and not DivReinvest<div><p>Blame Quicken.</p></div>dtdtag:infinitekind.tenderapp.com,2009-01-14:Comment/574467422023-01-07T01:35:19Z2023-01-07T01:35:19ZSchwab download duplication - reinvested dividend comes across as MiscInc + Buy and not DivReinvest<div><p>Oh, and I'm sort of a migration veteran, having spent weeks 3 years ago (not full time) to get my 35 years of data transferred well.</p>
<p>if you have any particular questions (like absolutely crazy balances in investment accounts and accounts that ever transferred to them)....</p></div>dtd