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Posted by Don R on May 6, 2006, 9:59 pm
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> Don R wrote:
>>> Don R wrote:
>>>> I'm using Quicken 2005 Premier to track my IRA account with
>>>> TIAA-CREF.
>>>> When I download a transaction file it gives me placeholder
>>>> transactions that first delete all shares then add them back in,
>>>> all
>>>> on the same date. The transactions balance out, but it makes a real
>>>> mess of the account.
>>>>
>>>> Is there a way to get rid of these transactions? I've tried
>>>> deleting
>>>> both the sell and buy transactions, but they just come back again
>>>> when I compare the account holdings using the On-Line Center
>>>> feature
>>>> of Quicken. Any help would be appreciated.
>>>
>>> I think if you look carefully, you are creating ("Accept"ing) those
>>> placeholders; Quicken just offers them, you do not have to accept
>>> the offer.
>>>
>>> Also make sure you do not have two securities with very similar
>>> names in your Security List; one that matches what TIAA-CREF is
>>> downloading the other where you have accumulated your Quicken
>>> TIAA-CREF holdings.
>>>
>>> --
>>> John Pollard
>>> First initial underscore Last name at mchsi dot com
>>> Please reply to newsgroup
>>>
>>
>> John,
>>
>> Thanks for the quick reply. While it's true that Quicken is just
>> offering the placeholder transactions, they won't go away unless I
>> accept. It's sort of like "an offer I can refuse." When I delete
>> them they come right back again when I compare online holdings with
>> my quicken account holdings.
>>
>> From what I read at the Quicken Help site, these transactions occur
>> when the account is "activated online" because the number of shares
>> don't balance out on the date the account is activated. I was just
>> looking for a way to clean things up since the transactions are
>> pretty numerous and distracting. And in the end, they don't change
>> anything.
>>
>> What I was hoping for was a way to accept the placeholder
>> transactions then later on delete them from the account.
>>
>> Your advise about looking for share holdings with names that are very
>> close is a good point. I think that's happened to me once or twice
>> in the past. However, in this case that wasn't the cause.
>
> Those placeholders certainly are confusing. But after dealing with
> them I came to the conclusion they are useful. They are trying to
> save you grief with the IRS. You told Quicken suddenly, "I have
> 123.45 shares of X." That's fine, but what did you pay for it?
> Quicken didn't find a Buy transaction. So it put in the Placeholder
> as a reminder.
>
> One thing you could do is insert the real Buy of 123.45 of X for $DDD.
> After doing that, delete the Placeholder. All will be fine.
> Good luck.
Good advice. If the IRS wants to figure out what went on here, more
power to them. In the end, they probably wouldn't believe me or my
Quicken account records anyway. I might gain some sympathy from them
when they see what I had to deal with, but then probably not. I intend
to follow your advice and accept the transactions. Thanks for the
reply.
Don
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