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How do I unlink my Roth IRA account from my checking account without lossing data

William A Clark

I am trying to figure out how to unlink an account (my wife’s Roth IRA) from our checking account.

In the account details set up, the “YES” option is marked for “show cash in a checking account”. I don’t remember checking this box, but I have made transfers between our checking account and the Roth IRA in the past.

If I change the option for “show cash in a checking account” to “NO”, the checking account gets completely messed up. If I delete the Roth IRA account, and try to start over, the checking account gets messed up.

I have over twenty years of data in the checking account which I don’t want to lose. I don’t mind if I lose the data associated with the Roth IRA (I can get it from Vanguard).

Any suggestions how I can fix this. Ideally, I’d like to completely remove the Roth IRA record on Quicken, and then start a new account without it being linked to my checking account.

Thank you!

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NotACPA

Just change that "show cash … " option to NO. Nothing will be lost, but take a backup first to be safe.

q_lurker

Is the IRA account recognized in Quicken as a retirement account? My IRA-type accounts do not offer the Show cash in a checking account option. That is making me wonder how you have these accounts set up.

You apparently have that option. If you change that from Yes to No, the entire linked checking account should disappear (not just get messed up). All the transactions that were in the checking account get moved into the investment account.

Deleting the IRA account should also delete the linked checking account.

There is something else going on here that is not yet clear.

volvogirl

And doesn't the show cash in a checking account make another new checking account? Not in your existing personal checking account. Yes you can have transfers from your real checking account to and from the IRA.

q_lurker

And doesn't the show cash in a checking account make another new checking account?

That too would be the normal process.

mshiggins

I recall Money allowed linked cash accounts with retirement accounts and the conversion guidance was to unlink before converting to Quicken.