How to transfer shares from IRA to Roth IRA?

tas99

I converted some (not all) shares of one security from an IRA to a Roth IRA account.  Schwab listed it as "Journaled Shares", so they were not sold and bought in the new account.  How to I transfer the 300 shares of Pimco Total Return and keep the original purchase information?  Thanks.  Using Quicken Premier 2016 (Windows)

Jim_Harman

You don't say what version of Quicken you are using, but one of the following methods should work for Windows Premier 2017 R4, depending on your needs.

-- Use a Transfer Shares between Accounts investment action and specify which lots you are transferring. This is generate one or more Remove transactions in the source account and matching Adds in the destination, preserving all the relevant cost basis and performance info. However i don't think this will record tax info on the distribution you received from the regular IRA.

-- or, Sell the shares in the source account, transfer the cash, and Buy replacements in the destination account. This should make your tax reporting correct. Note there is no need for tax reasons to keep track of capital gains and losses in tax deferred accounts. With this method if you want to track the long term performance of your Pimco Total Return, you must include both accounts in the analysis.

tas99

Thank you for the additional option.