How should transfers of securities from a 401K Rollover IRA to a Roth IRA be recorded?
Fidelity downloads give me "Shares Removed" and "Shares Added" transactions. In the "Shares Added" I am provided a "Total Cost" entry in the Edit Box where I can enter the new cost basis, which is the value of the security at the time of the transfer. This is the taxable amount. But, in the "Shares Removed" Edit box I do not get that option. I did notice that in one of the "Shares Removed" edit boxes that upon accepting, I was provided an option to transfer shares, although not always and I am not sure what triggers this. I tried this on one security, but it transfers every buy transaction at the original cost basis, and not the taxable basis. Way too many transactions if you consider I was buying the securities from each paycheck when I was working for a living. The only way I can figure to do this is to sell the shares in the IRA account at the current price, transfer the funds to the Roth IRA account, and buy the shares back in the Roth account. Is there a better way within the Quicken system?
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