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
How to close an IRA with a tiny error?

I am trying to close an IRA account after 25 years and, compulsive as I may be, in the end, I have a cash value of $0.00 but a securities value of -$0.10. I can live with this error, but it seems that Quicken cannot. The source of this insignificant error is not obvious despite hours pouring over too many years of entries.
Any suggestions as to how to create a permanent entry that will allow me to reconcile and close the account?
Thanks.
Any suggestions as to how to create a permanent entry that will allow me to reconcile and close the account?
Thanks.
0
Answers
If so using an Add Shares transaction might do it.
If not it might be data problem/calculation problem.
Try:
File -> File Operations -> Validate and Repair -> select both Validate File and Rebuild investing lots -> OK
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
There are no items which neatly explain the -$0.10 discrepancy over 25 years of records. I had done the "validate and repair" procedure earlier to no avail.
I went over the account looking for stock splits which might yield fractional shares, and there are none of those.
I liked the idea of "sell all" as opposed to a specific number of shares, and went over the account with that in mind, to address any residual fractional shares.
Unfortunately, many of the "sell" orders were of mortgage securities, where both a principal and interest were returned monthly. While the principal was addressed as a sale, and the interest as income, there are multiple entries of this nature over the years for different mortgage bonds, and none are precisely for $0.10.
There is one such bond for which a "cash+invest" is $0.10 on multiple occasions, but I am not sure how to deal with that or if that is even important. Looking for the final "sell" of that bond, I found that there was still a $500 value to it when I transferred it to another account, and it would not be possible to use "sell all" for that and the other such bonds in this account that I also transferred to a different account from which they went on to maturity.
I am perfectly happy to "fudge" or "adjust" any of the mortgage repayment items to see if this bond is the problem, but I am not sure of how that might be done. If I could transfer the security value to a cash amount, it would be easy to remove it and resolve the issue. Perhaps I could "adjust" the value of any such bond when it was transferred to another account. Again, I am not sure where or how to do that.
In the end, while I suspect it is likely to be a mortgage bond that has caused the problem, I remain uncertain of that as a fact.
Your thoughts are appreciated.
Thanks.
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
Now running Quicken Windows Subscription, Home & Business
Retired "Certified Information Systems Auditor" & Bank Audit VP
Would it be possible for you to go back and delete the "remove" and "added" transactions and record them in one transaction - a "shares transferred between accounts" using the original date that the "transfer" occurred? I am not sure that will fix it, but it would be worth the try. But before you do anything, make a current backup of the file.
Frankx
Quicken H&B-Subscription - Ver. R29.20 - Build 27.1.29.20 - Windows 10 Home - Ver. 2004- - - - Quicken User since 1984 - - -
- If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you. -
Unfortunately, even with this change, I still have the same -$0.10 security balance in the older account, and the newer account remains as correct as I can determine.
I remain out of balance. :-(