how to cancel linked checking to IRA

Unknown
Unknown Member
edited June 2018 in Investing (Windows)
I need to remove linked checking from IRA account; Only able to set up LCA to Investment Account, not IRA; somehow created in various upgrades ; now Quicken 2018 R9.34.
Someone suggested new retirement account and transfer old IRA and Linked checking into such new account?  Anyone facing this problem?

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  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited June 2018
    If I recall correctly, linked checking accounts for IRAs were a construct specific to bringing Money files into QW format.  I believe that was the only way they could be built and once built, there was no way to destruct them.  

    What problem are you facing that you need to undo that setup?

    I think the advice you received was probably correct.  I'd do that as:
    • create a new account
    • buy shares of a MM with all cash in linked account taking that to a $0 value
    • Shares Transferred Between Accounts to move all holdings (including cash as MM) to new account
    • Sell MM to recreate cash holding
    HTH
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