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How to change a file from type IRA to type brokerage?

handvprice

Quicken 2015 win R17.4. I have several years of transactions in an investment account file of type "IRA". Because it would make entering transactions a little easier (specifically, for "Miscellaneous Expense" that's not offered in the Action drop-down (although it is offered in the Edit transaction)), I'd like to change the file type to "Brokerage". It consists of multiple investments, not a single mutual fund. I'm using this just to keep track of the broker's actions, so I don't mind if it's no longer considered tax-deferred. Is there a direct way to convert it? If not, is there a way to select multiple (i.e., all) transactions, and copy/paste or cut/paste them into a new account? Multiple selection doesn't seem to work for investment accounts...

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volvogirl

Is it set up as a Single Mutual Fund now? If it is a SMF you should be able to edit the account and change it. There might be a yes or no box for Single Mutual Fund.

Frankx

Hi @handvprice

Unfortunately you can't change the "type" of an account in Quicken after it is established. But you can create a new account in Quicken and set the "type" to "brokerage" and then move the transactions from the IRA account register to the new brokerage account register.

If you decide to do this, first backup your Quicken file. Next - create the new "brokerage" type account.

Then go to the old IRA account register and:
1) Click on the "Gear" icon in the upper right corner and select "move transactions";
2) Click on the "Select All" button at the bottom of the screen;
3) In the "Move to account:" box on the lower right - use the down arrow to select the new "brokerage account" that you setup above;
4) Click on the "Move" button

This should place all your existing transactions in the new brokerage account. Once you see that the account is complete with the transactions all moved, you can delete the old account in Quicken.

Let me know if you have any followups.

Frankx

J_Mike

One can not convert an IRA/401k type account back to a regular brokerage account.

Suggest you try this route (have not done it myself)
Create the new brokerage account.
Open the IRA account register.
Select a transaction and right-click.
Select Move Transaction(s).
Carefully review the options and specify the new brokerage account as the destination.

Note that you can specify the brokerage account as Tax Deferred - to give it the proper tax status.

Be sure to make a backup of your data file before launching this exercise.

q_lurker

I don't believe the MOVE TRANSACTIONS option was available in QW2015. Only one by one copies.

You may be able to export the account to a QIF file and then import that file (after modifications).

See:
https://community.quicken.com/discussion/7150750/faq-how-to-import-qif-files-into-non-cash-accounts-post-q2004#latest
and
https://community.quicken.com/discussion/7100667/faq-a-program-to-add-the-account-name-and-type-to-qif-files-so-that-quicken-will-import-them#latest

Chris_QPW

q_lurker said:

I don't believe the MOVE TRANSACTIONS option was available in QW2015. Only one by one copies.

It definitely wasn't in that version. I don't believe it is even in Quicken 2017. You must have the subscription version.

J_Mike

q_lurker said:

I don't believe the MOVE TRANSACTIONS option was available in QW2015.

I missed the 2015 date in the OP;s query.

The Move Transactions feature is relatively new - about a year ago or so to the subscription model.

Rocket J Squirrel

This all seems like a lot of trouble just because MiscExp doesn't appear in the Action menu.

q_lurker

Rocket J Squirrel said:

This all seems like a lot of trouble just because MiscExp doesn't appear in the Action menu.

Especially (IMO) since you still end up with the pop-up window for the MiscExp entry screen. Never has been (as best I recall) an in-line entry.

Chris_QPW

Personally I would have never noticed this if people hadn't pointed it out because I never enter transactions from the register. I gave up on that years ago. Between the different "behavior" of entering different transactions (like the Misc popup) and focus problems and such I have always just clicked Enter Transactions and stay in there until done.

The only time I have ever really done things directly in the register is when I had to edit some existing transactions, which is very frustrating process, given that depending on the transaction it might or might not put the focus on the next transaction after you have hit enter on a transaction.

handvprice

Thank you all! Indeed, my version does not offer "move transactions", nor "select all". And yes, there are problems of focus not moving predictably, which I figured was buggy but which I'd gotten used to. So I did decide to proceed without changing type. And yes, it's struck me weird that the inline drop-downs and Enter transaction offerings are different, as well as the offerings changing by account type.

I'd love to change from manually entering to downloading transactions, but I believe that this old version no longer offers downloading. And I much prefer having a single version of the software to the subscription model.