Schwab Distributions with tax withheld

[gcm223]

Mark

When I do a withdrawal from a Schwab account for any of my clients and I elect to withhold federal and state tax, the withholding transactions appear as Account Fee Reinvestment. This throws off the Account Fees Paid on the executive summary report as it adds in the taxes withheld as fees paid.

Can this be changed?

[Mark]

Hi gcm223,

What exact version of Fund Manager are you using? See "Help / About...".

Are you importing transactions from a Schwab Data Delivery (*.TRN) file? Is it the newer CRS*.TRN or the older CS*.TRN file format?

Do you know the transaction codes being reported in the .TRN file for these withholdings? If not, you can open up the .TRN file in a text editor. The transaction code is in columns 555-559 if you're using the new CRS*.TRN file. If you need help, you can modify a copy of this file, and overwrite all the account numbers, and email it to me. I can take a look.

[gcm223]

Mark

We are using Version 2014.13.7 Quote Module 481 and Transaction Module 222

We only take in the new transaction file. (CRS not the CS file)

I cannot figure out the transaction code. I have emailed a copy of it to you.

Thanks

[Mark]

Hi gcm223,

This has been improved in Fund Manager Advisor 2016. The withholding transactions now come in as sell transactions out of cash. I confirmed the file you sent me imported this way in the current version.