Scottrade Distribution Import Errors

[elliots]

Mark,

Started looking at your Executive Summary Report and found reason to examine distribution data (more on the Exec Sum report in another post later) and noted some errors in categorizing some distributions. Items identified as ST Cap Gain were imported as MT Cap Gain, and LT Cap gain were imported as ST Cap Gain. Data was imported from the Scottrade download files. The memo field correctly identifies the transaction (and I confirmed characterization with Scottrade statements). I don't know how widespread this is -- I noted it in one investment (the only one I looked at).

Elliot

[Mark]

Hi Elliot,

Do you still have your .TR1 transaction files that were used to import these distribution transactions? If so, please open one in a text editor (like Notepad), and see how they were categorized in there. Here is how FM maps these distribution types:

DVD50: ST Cap Gain
DVD55: MT Cap Gain
DVD52: LT Cap Gain

The Scottrade transaction code can be found in columns 143-153 of the .TR1 files.

Also, if you happened to move the names under "Options / Distribution Labels...", the above mappings are based on the original distribution names.

[elliots]

Mark,

I checked the TR1 files and it appears that Scottrade is not using the codes as you gave them to me. The LTCG transactions were coded DVR50 and the STCG were coded DVR55. You may need to alert them to this.

Elliot

[Mark]

Hi Elliot,

Interesting, thanks. I just called our contact at Scottrade. They seemed somewhat aware of this problem, and were going to provide us some clarification and updated documentation. We'll get it cleaned up for 10.4, assuming we get this updated documentation. They are usually very good about this, so I expect it will be resolved soon. I'll post an update when I know more.

It looks like your distributions were reinvested. For the reinvestment, the codes are DVR, but for the distribution the codes start with DVD. Do both the DVD and DVR lines have the same numbers (50 and 55)? For example, if an investment has a reinvested LT cap gain, you should have a DVR50 and a DVD50, for the same dollar amount, but the DVR50 will also have the number of shares re-purchased.

[elliots]

Mark,

Yes, there are matched pairs of transactions, DVD and DVR.

Elliot

[elliots]

Mark,

Just noticed another Scottrade import error -- foreign tax is being imported as "other". The Code in the TR1 file is "FTD"

Elliot

PS I note that in the TR1 file most codes are preceded by a - Not so with the FTD.

Elliot

[Mark]

Hi Elliot,

I'm not able to reproduce that here using my sample data. The FTD transactions are coming in correctly as Foreign Tax types of distributions. Are you using version 10.3? Can you provide a sample line from your .TR1 file that isn't coming in right? You can change account numbers/amounts before sending/posting the example.

[Mark]

We did hear back from Scottrade on the Short/Long/Medium term capital gains coding. We will have this updated for the next release (10.4).