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How record a Roth custodial to custodial transfer, i.e. non-taxable event

gregt50

Moving funds from existing Roth acct to a new Crypto Roth acct. Not sure how to record in Quicken (WIN subscription). It is done custodial to custodial by their terms but how would i show that in my Quicken acct as it seems to want to treat this as a new contribution which i'm now allowed to do

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jacobs

Since both investments are in Roth accounts, you don't really care about capital gains or the basis date. Crete a new Roth account for the crypto fund, and then you could just do a Remove Shares from the original Roth account and an Add Shares in the new crypto Roth account. Or you could enter a Sell in the original Roth account, a transfer to move cash to the new crypto Roth account, and a Buy in the new account.

NotACPA

OR you could simply disconnect the current account from download, change the bank/FI name and re-connect for download ... since it's ll the same account to you.

gregt50

NotACAPA,
Appreciate your thoughts. Note keeping some funds in exiting Roth acct. I'm moving some of those funds to another company's new ROTH self directed acct. Both will be active and i want to track them in Quicken. When i retire soon from current full time position to a new part time job, which will be under the contribution earned income threshold, I can start contributing again to both of these.

q_lurker

I’d move the shares from old account to new account (bypasses the contribution question), sell the shares in the new account (even though they are actually sold in the old account), and then track the new custodian’s actions somehow. Quicken is apparently not very adept at direct crypto transactions.