how do I add a CD to an IRA without purchasing it and how do I update the value.

Skagit

I see a response to this that says create the CD in the security list, but when I go to add an item in the security list it asks for the ticker symbol. There is no symbol for a CD. How do I add a CD to the account and, once added, how do I manually update the price. Also I have two CD's purchased at different times, so the current value is different for them at each month end.

Frankx

Hi again @Skagit,

Okay, for a brokerage account, you'll need to take these steps"

1) Open the Security List > Click on the "Add Security" button;
2) In the pop-up window titled "Add Security to Quicken" - click on the "Click here" link located at the bottom;
3) In the next window - enter a ticker symbol - that you create - for this CD; then enter a name for it; and select "CD" from the drop-down for the "Security type; (see the example below) the click "Next";


4) On the next screen - chose and "Asset class" and enter the CD's maturity date > click "Done".  If the CD has a CUSIP number you can get that from the brokerage firm and enter that.
5) Open the brokerage account register> you will need to enter the "purchase" of the CD here.  Keep in mind that the brokerage CD's are denominated in 100's - so a for $10,000. CD, you would be "buying" 100 shares of it. Make the buy transaction in the register.
6) you may be able to get downloads of the "price" of a CD from the brokerage account through its CUSIP number. Otherwise you'll need to manually update the "prices" in Quicken.

If you have any followups, post back here.

Frankx

Frankx

Hi @Skagit

Is the account that holds these 2 CD's a bank account or a brokerage account?

Frankx

Skagit

It’s a brokerage account.

Frankx

Hi again @Skagit,

Okay, for a brokerage account, you'll need to take these steps"

1) Open the Security List > Click on the "Add Security" button;
2) In the pop-up window titled "Add Security to Quicken" - click on the "Click here" link located at the bottom;
3) In the next window - enter a ticker symbol - that you create - for this CD; then enter a name for it; and select "CD" from the drop-down for the "Security type; (see the example below) the click "Next";


4) On the next screen - chose and "Asset class" and enter the CD's maturity date > click "Done".  If the CD has a CUSIP number you can get that from the brokerage firm and enter that.
5) Open the brokerage account register> you will need to enter the "purchase" of the CD here.  Keep in mind that the brokerage CD's are denominated in 100's - so a for $10,000. CD, you would be "buying" 100 shares of it. Make the buy transaction in the register.
6) you may be able to get downloads of the "price" of a CD from the brokerage account through its CUSIP number. Otherwise you'll need to manually update the "prices" in Quicken.

If you have any followups, post back here.

Frankx

Skagit

Thank you thank you. That was SO helpful! Now when I want to redeem the CD what's the procedure?

Frankx

Hi again @Skagit

When you redeem the CD, you will need to treat it as a sale in the brokerage account for the "par" value at the date of sale, presumably that will produce no gain or loss at maturity, and if there is a difference, I suggest it be treated as an adjustment to the bond's interest income.

Frankx