How do I add a security to a 529 account?

jwt535

I don't know what you want here!

Jim_Harman

[Edited]
I see that when setting up a 529 account in Quicken, you can define it as a "Single Mutual Fund" account, which can only hold one security and no cash, and it appears that this is what you have done. Unlike other SMF accounts, you do not have the option later on to convert it to a brokerage-type account which can hold multiple securities.

Your only option may be to create a new account in Quicken which can hold multiple securities and cash and transfer the current security to that account, or use the work-around you describe above.

If these are special securities, the instructions in my previous post still apply but you should not assign a ticker or tell Quicken to download quotes.

Jim_Harman

Update:
If a 529 account is set up as a single mutul fund account, you can change it to a brokerage type account by clicking on Holdings then scroll down to the Account attributes section and click on Yes then OK. Back up your data file first just in case...

Jim_Harman

Does the account support transaction downloading?

Is this a publicly traded security with a ticker, or something special to the 529?

What specific problem are you having?

jwt535

Your answers in order; No, No, I am trying to add an additional security to a 529 account.

Jim_Harman

I assume you mean it is publicly traded but you can't download transactions. In that case you should go to Tools > Security and add the security to Quicken, making sure the Download Quotes box is checked when you are done.

Then transfer the cash contribution from a banking account in Quicken to the 529 account, then in the 529 account, enter a Buy transaction to purchase the new security.

jwt535

It is a Vanguard 529. These 529s do not have ticker symbols and are not publicly traded. Quicken allows only one security in a 529 and it cannot be modified in any way except prices and quantities. The fund in this 529 is age based and Vanguard just raised it to the next level. I sold the first fund, put the cash into a holding account and then bought the new fund.

Jim_Harman

[Edited]
I see that when setting up a 529 account in Quicken, you can define it as a "Single Mutual Fund" account, which can only hold one security and no cash, and it appears that this is what you have done. Unlike other SMF accounts, you do not have the option later on to convert it to a brokerage-type account which can hold multiple securities.

Your only option may be to create a new account in Quicken which can hold multiple securities and cash and transfer the current security to that account, or use the work-around you describe above.

If these are special securities, the instructions in my previous post still apply but you should not assign a ticker or tell Quicken to download quotes.

Jim_Harman

Update:
If a 529 account is set up as a single mutul fund account, you can change it to a brokerage type account by clicking on Holdings then scroll down to the Account attributes section and click on Yes then OK. Back up your data file first just in case...