Home Quicken for Windows Investing (Windows)
Quicken Community is moving to Single Sign On! Starting 1/22/21, you'll sign in to the community with your Quicken ID. For more information: http://bit.ly/CommunitySSO

Accounting for Limited Partnership Interest?

I currently track the underlying securities for a Family Limited Partnership (FLP) in two quicken investment accounts (different brokerage firms). I also maintain Quicken accounts for several trusts that are investment partners (% owners) in the FLP but also invest directly in conventional securities via their own brokerage accounts. Is there any way to create a "placeholder" security for the trust accounts that would reflect a fixed percentage of the current value in the FLP accounts? In some respects, the FLP is like a private mutual fund, but I haven't identified any way to automatically allocate a portion of the value of the FLP account(s). Any good ideas???

Comments

  • Jim_HarmanJim_Harman SuperUser ✭✭✭✭✭
    One way to handle this would be to create the FLP as a fake security in a special account in each person's Quicken file. 

    Say there are 3 people Alice, Ben, and Charlie and Alice owns 50%, Ben 30%, and Charlie 20%.

    Set the total number of shares in the FLP to a round number like 1,000. Then Alice's Quicken file gets 500 shares, Ben's 300, and Charlie's 200.

    Say the value of the FLP is $1.2 million. Then each share is worth $1,200.

    Set this share price in each person's Quicken file and they will get their share of the total value. 
    -- Jim QWin Premier subscription
Sign In or Register to comment.