transfer investment costs from inherited IRA

The investment costs did not transfer when my (deceased) husband's IRA was added to my own IRA account. Cannot figure out a way to add the costs within the program.

Answers

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Do you mean the cost basis?

    Are both accounts tracked in the same Quicken file?

    Were the holdings from your husband's account transferred "in kind" i.e. the securities moved directly, without selling in his account and buying in yours?

    If yes, yes, and yes, you can use the "Shares transferred between accounts" action to move the securities to your account in Quicken and preserve the cost basis.

    Note that preserving the cost basis is not as important in IRAs as in taxable accounts, because the tax you pay does not depend on the original cost.

    You should be sure to consult with a tax advisor to determine the best way to treat an IRA inherited from your spouse. This article may help.
    https://www.investopedia.com/articles/personal-finance/102815/rules-rmds-ira-beneficiaries.asp
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