seperate/split investment accounts

Unknown

Want to take a single investment account and split into 2 separate investment accounts. All the data involved goes back 10 years +. Any ideas if that can be done without giving up my first born son ? Using Quicken Deluxe 2016.

Bob_L

Wondering why you would want/need to do.that?

mshiggins

If you would be so kind as to tell us why you are wanting to split an investment account, we would be better able to advise you on if doing so is possible and if it is possible, how best to go about doing so.

volvogirl

Are you doing something in your real world investment account?  Like really moving or transferring some of the shares to another account?  Like splitting up with another person?

Unknown

It started out as a small family account ,but  it has gotten to cumbersome and needs to be split into the actual owners. Want it to "mirror" to some extent my actual brokerage account. There is so much data that Quicken takes a long too long to process,before being able to do another transaction. That is the another reason. It is not my computer, as other accounts with less data process quickly.

NotACPA

john said:

It started out as a small family account ,but  it has gotten to cumbersome and needs to be split into the actual owners. Want it to "mirror" to some extent my actual brokerage account. There is so much data that Quicken takes a long too long to process,before being able to do another transaction. That is the another reason. It is not my computer, as other accounts with less data process quickly.

A bit of clarification needed.  What exists in the real world?  One account, or two?
Q should ALWAYS mirror the real world.

Also, is this "family" account mixed in with your other personal accounts?  OR, is it in it's own data file?

Unknown

john said:

It started out as a small family account ,but  it has gotten to cumbersome and needs to be split into the actual owners. Want it to "mirror" to some extent my actual brokerage account. There is so much data that Quicken takes a long too long to process,before being able to do another transaction. That is the another reason. It is not my computer, as other accounts with less data process quickly.

Real world is several/many accounts. I understand it should mirror, but have reason it does not .It is in 1 Q data file and one account presently. I could copy and delete what is not needed,but that would take a lifetime. Just want to split into 2 investment accounts. Basically want to "strip out" some securities and put into a new account, history and all.

Bob_L

Why don't you just transfer the securities you want to split out into a new account? That would keep lot data and cost basis intact.

q_lurker

What Bob L offers is the best path (IMO).  Create the new account(s) in Quicken,  Use the Shares Transferred between Accounts (Enter Transactions button) to transfer applicable shares from existing account to proper new account.  Doing so, you can specify applicable lots of each security.  The cost basis and acquisition date for the specified lot will transfer to the new account.  The specific dividend history will not transfer other than as applicable for any shares acquired through dividend reinvestment plans.  

After the transfer date, return and performance figures will figure correctly and consistently.  For performance and return figures including times before the transfer, you will need to include both old and new accounts in the report customization.  Other nuances may also appear.  

HTH

Unknown

Thanks and will give it a try !!!!!!!!!!

Tom Young

Back up your file before trying it, of course.  Too, the implicit assumption is that each security belongs either in the original Account or the new Account, i.e., there are no securities that the two Accounts "share" in the sense that both Accounts have that same security, to some extent.

q_lurker

Tom Young said:

Back up your file before trying it, of course.  Too, the implicit assumption is that each security belongs either in the original Account or the new Account, i.e., there are no securities that the two Accounts "share" in the sense that both Accounts have that same security, to some extent.

I was not making or implying that assumption in my suggestion toward the Shares Transferred action.  Thus my notation that lots could be specified in the transfer.  Provided proper diligence is exercised, there should not be a limitation that a given security only be held in a single account.  

Of course, the understanding that one is specifying lots does imply that the option to transfer "All" shares of a specified security is not being selected.  

Appreciate the reminder to backup as well.    

Tom Young

Tom Young said:

Back up your file before trying it, of course.  Too, the implicit assumption is that each security belongs either in the original Account or the new Account, i.e., there are no securities that the two Accounts "share" in the sense that both Accounts have that same security, to some extent.

You are correct, of course.  I overlooked that.