Account Details Editing

PERSUASION-STX

I have added investment accounts via the automatic download process. Is it possible to go back and change account ownership & make some of them "Roth" IRAs? Do I have to go back and manually add these accounts and then delete the original ones?

Thanks

[Edited for Readabilty]

Frankx

Hi @PERSUASION-STX

When you add investment accounts to Quicken you are asked to enter certain data that can easily be changed without affecting the account or how it works.  These data are things such as "Account Name", "Description", "Contact Name", etc.  Those items (as well as some others) may be changed any time by going to the "Account Details" > "General" and "Display Options" Tabs.

However, regarding the "make some of them "Roth" IRAs" part of your question - you cannot change the account type of an IRA from a regular IRA to a Roth IRA.  For those, you will need to setup new accounts in Quicken and then delete the old accounts (this assumes these are not "conversions" of regular IRA's to Roth IRA's).

Let me know if you have any followups.

Frankx

Chris_QPW

Frankx said:

However, regarding the "make some of them "Roth" IRAs" part of your question - you cannot change the account type of an IRA from a regular IRA to a Roth IRA.

They changed this recently; you can change the type of IRA account now.

Chris_QPW

Hmmm.  I see this is also about the ownership.  There doesn't seem to be a way to change that.

I'm not sure where that is even used.  I thought it might be in the Lifetime Planner, but in there you can switch between spouses for any given IRA account.

EDIT the Account Holder is shown in 401K accounts and can't be changed.
And I think the other place the account holder would come up is in the Tax Planner.

Frankx

Hi @PERSUASION-STX

When you add investment accounts to Quicken you are asked to enter certain data that can easily be changed without affecting the account or how it works.  These data are things such as "Account Name", "Description", "Contact Name", etc.  Those items (as well as some others) may be changed any time by going to the "Account Details" > "General" and "Display Options" Tabs.

However, regarding the "make some of them "Roth" IRAs" part of your question - you cannot change the account type of an IRA from a regular IRA to a Roth IRA.  For those, you will need to setup new accounts in Quicken and then delete the old accounts (this assumes these are not "conversions" of regular IRA's to Roth IRA's).

Let me know if you have any followups.

Frankx

Chris_QPW

Frankx said:

However, regarding the "make some of them "Roth" IRAs" part of your question - you cannot change the account type of an IRA from a regular IRA to a Roth IRA.

They changed this recently; you can change the type of IRA account now.

Chris_QPW

Hmmm.  I see this is also about the ownership.  There doesn't seem to be a way to change that.

I'm not sure where that is even used.  I thought it might be in the Lifetime Planner, but in there you can switch between spouses for any given IRA account.

EDIT the Account Holder is shown in 401K accounts and can't be changed.
And I think the other place the account holder would come up is in the Tax Planner.

PERSUASION-STX

Thank you both for the input. Long time user (1986) creating a new file from scratch.