support for private placement investments

tcm8311

I invest heavily in private placements (putting money into someone's LLC), so I'm a member who owns a small percentage. I put in say $50K, and quarterly distributions are made from the operations of the business. I'd like to track and graph these.. but, everything I do seems to want to track back to some stock symbol. when really, it's just a ACH deposit into one of my bank accounts.

Am I missing how non-publicly traded investments can be managed?

Jon

You can create your own security symbol, but if the quarterly distributions aren't occurring within an investment account I don't think there's any way to add the investment symbol to the transaction. 

What I think I would do in your case would be to create a brokerage account to track these investments. When you get a dividend, first add the dividend to the brokerage account as a dividend distribution for that security, and then add a second transaction transferring the money to your bank account. Then you can track each investment from the brokerage account.

jacobs

To add one detail: when you create a security which isn't publicly-traded, the software doesn't make it clear how to step around entering a symbol. It wants you to enter something, and if you try to blank out the symbol field, you get this warning dialog box:

The first time I tried to do this, I was confused and pressed Cancel because I didn't think "Use as Symbol" would let me have a blank security symbol, which is what I thought I wanted. What wasn't;'t clear to me is that I could use a dummy symbol, but not leave the symbol blank. So the correct thing to do is to press the "Use as Symbol" button, which will result in Quicken using the entire security name as the symbol. (In this example, "My Personal Pet Stock" becomes both the name of the security and the Symbol). Or when entering the security, you can enter something you want — such as "PRIVATE XYZ" -- as long as it doesn't correspond to any real-world security symbol. 

NotACPA

@jacobs, Are you SURE that isn't "My Personal Pet ROCK"?

jacobs

NotACPA said:

@jacobs, Are you SURE that isn't "My Personal Pet ROCK"?

That's a different asset class entirely.

Hmmm, wonder if one could make money selling NFTs of pictures of Pet Rocks?

NotACPA

jacobs said:

Hmmm, wonder if one could make money selling NFTs of pictures of Pet Rocks?

If those selling the Pet Rocks made money, I don't see why this wouldn't work.

Because, as we all know, "There's a sucker born every minute".