Changing account listing

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aLfGordon
aLfGordon Member ✭✭
edited October 2023 in Reports (Windows)

I have several accounts for investing. I have one account (IRA rolloever) that is categorized as a "retirement" account. I'd prefer that it lived in the "investment" area. How do I reset it so that it is in that column of accounts?

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  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
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    Is the IRA Rollover account actually a taxable account? If an account is set up in Quicken as an IRA type account, It appears there is no way to group it with your taxable investment accounts, i.e. change the account intent to Investing.

    Usually it is important to separate tax deferred from taxable accounts. For example, this is what prevents capital gains in an IRA from being included in the Tax reports.

    If you explain why you want to treat the IRA as an Investment account, maybe we can help figure out how you could accomplish what you want.

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  • aLfGordon
    aLfGordon Member ✭✭
    edited August 2023
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    I actually have other IRA acct's that are in "investment". I'd like all the investments in one spot and things like annuities that are actually creating income for retirement in the "retirement".

    This particular account changed in the last few months due to an account # change and even though it is an IRA, it was a simple brokerage account prior. (I split out the tax reports manually at tax time).

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
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    Looking at the Account Details is the "Tax Deferred" Yes button clicked?

  • aLfGordon
    aLfGordon Member ✭✭
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    Yes it is.

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited August 2023
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    For taxable investing accounts, you can go to Edit account details and click on the Display Options tab, where you can set the Account Intent to Investing or Retirement.

    Unfortunately this option is not available for IRA accounts. I think this is so that Quicken will correctly track the tax treatment of IRAs.

    If you really want the IRA to be grouped with your taxable accounts, you might be able to set up a new taxable account in Quicken and set the Tax deferred option, then transfer the assets of the IRA to that account.This account may be treated differently from an IRA in the Tax reports, Tax Planner, and Lifetime Planner. Be sure to back up your data before trying this, in case you do not like the result.

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  • aLfGordon
    aLfGordon Member ✭✭
    edited September 2023
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    I've tried all of the above with losing results - each time I recreate the online updates then go on to duplicate my entries Here is what I have…

    Rollover IRA that is listed in Q as an IRA, tax deferred, etc. I'd like it to show up as an investment rather than retirement. Ive tried the following,

    1. create new account with zero balance, then connect to the brokerage and the online updates all the missing transactions. All good except it messes with the buy sells and I end up with a bunch of sales that aren't right.
    2. create new account, cut and paste all transactions from previous account to this account, then delete the old account, set up the new for online updates and it does its thing but then duplicates all my just cut and pastes. If I delete those, the next update does the same thing again.

    I then go back and restore the quicken file to where I was when started. I know this is not a big deal, but I have reasons why I'd like the account to show investment rather than IRA. Can't there just be a way to change the IRA call? The pull down menu just allows IRA choices.

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
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    Can you explain why you want the tax deferred IRA account to be grouped with your taxable investing accounts? That is what you are apparently trying to get Quicken to do.

    If we understand that, we may be able to help you accomplish what you want, without having to change the account type in Quicken.

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  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
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    If you can't change the IRA to a regular Investment type Account, then another approach that should work just as well is to create a Custom View under Investing > Portfolio with just your regular Investment Accounts and this one IRA selected. That will put all this in "one place."

  • aLfGordon
    aLfGordon Member ✭✭
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    I have some annuities which Im using for retirement. They show up in the "HOME VIEW 1" detail nicely under the retirement section and reflect current balances of both. I then have other rollovers in the "investment" sections which reflect money (left over), some ira, some not that is used as a side investment if needed later. The ira money in those accounts is not ticked for tax purposes at year end and not in my reports. I'd prefer to look at a glace and see all those accounts and thier values on the View 1 page. All of those accounts were set up back then as investments and all works fine to now when this one lone account is lumped with the annuities (which are IRA $) in the retirement section. I know that this is odd, and I'm about to give up. I'm only seeing a way to convert $ to IRA, but not the reverse.

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
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    I suspect there may be several issues at play here.

    You can add and remove panels from the Home tab views or pages, so it is not clear what panels you are seeing on the "View 1" page.

    Also there are at least 3 settings for an account that control whether it is grouped with the Investment or the Retirement accounts in various places in Quicken. These settings are:

    • The Account Type, which is set when you create the account and shown when you click on the gear at the top right of the account's transaction list and select Edit account details. Some account types allow you to convert to a different type. IRAs cannot be converted to Brokerage accounts. If possible it is best to make the Account Type in Quicken match the account's actual type.
    • The Tax deferred option in the account details
    • The Account Intent option on the Display options tab of the account details. This option is not available for IRA accounts.

    Are you referring to the panel titled "Investment and Retirement accounts"? On that panel, it appears that accounts in the Investment section are those with an Account Type of Brokerage where the Tax Deferred option is set to No and the Account Intent is set to Investment. All other investing accounts are set to Retirement.

    Because of these limitations, I don't think there is a way to force an IRA account to be grouped with the Investing accounts on that panel. I would go with @Tom Young 's approach of creating an Investing > Portfolio view that combines the desired accounts.

    Other than that, I can't follow your last post. Do you have an account that is actually an IRA but is set up as a Brokerage account in Quicken, or is it the other way around? Do you have an account in Quicken that is actually a combination of more than one real world accounts, perhaps a taxable account and an IRA? Do you want to change the account type in Quicken so that it matches the real world type of the account? Please clarify.

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  • aLfGordon
    aLfGordon Member ✭✭
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    JIm, first, thank you.

    I understand all of what you've written above. Yes, I have an account that was set up original as an IRA - tax deferred. I want it to shown as a brokerage under "account type". Changing the tax deferred yes or no does nothing. I dont care where the account shows on the account side of the main page. The problem occurs in the "view 1" tab of the "home" dropdown. In that view I see in the "all accounts" tile that has a section entitled "investing", under that are two sub-categories, "investment" and "retirement". This errant IRA shows in the "retirement" section and I'd prefer it live in the "investment" section. As stated above, I tried recreating the account which works initially, then gets all messed up when the online updates next occurs. Al I want to do is "recategorize" the account as an investment rather than retirement.

    If there is no fix (I'm shocked). I will contact the brokerage company and simply have them create a new account on their end, i.e.new account number, and simply allow the online update to move and transfer the holdings - a silly way to have to do it. Again, I know that most all people would never need to do this, I actually have a valid reason to not wanting it there.

    Sorry for the confusion. I hope this clears it up.

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited September 2023
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    You could create a new brokerage account in Quicken. Then in the old account, click on Enter Transactions and use Shares transferred between Accounts to move your current holdings to the new account, then disconnect your old account from downloading and connect the new one. But if the real life account is actually an IRA, Quicken's tax reporting, Tax Planner, and Lifetime Planner will all be wrong as a result because Quicken will treat it as a taxable account.

    It's your data and you can do what you want, but I think you would be better served by setting up an Investing > Portfolio view that just includes the accounts that you want to think of as investing accounts and another view for those you think of as retirement accounts.

    Be sure to back up your data file before making any bulk changes, in case the result is not what you expected.

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  • aLfGordon
    aLfGordon Member ✭✭
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    Thanks Jim…

  • aLfGordon
    aLfGordon Member ✭✭
    edited September 2023
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    I assume I move the shares, in this case "all shares". What about transactions, should I move all of them too? Then delete the account when it shows empty.

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
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    Shares Transferred between Accounts enters one Removed transaction for each security currently held in the old account(s) and an Added transaction in the new account for each tax lot of each security. It preserves the cost basis and acquisition dates of the securities transferred. The original cash and security transactions will remain in the old accounts. You should not move the transactions to the new account. You should not delete the old account. The original transactions will remain in the old account so you can refer to them if you want. It is just the current holdings that get moved to the new account.

    1. Make sure the holdings in your old account(s) prior to the transfer are up to date and accurate. 
    2. Back up your data file in case something goes wrong.
    3. In the old account(s), click on the gear, pick Edit account details, and on the Online Services tab, click on Deactivate.
    4. If there are transactions in the old account(s) that remove the holdings for the transfer, delete them.
    5. Set up the new account in Quicken if you have not already. If there are already transactions that transfer the holdings into the account, delete them.
    6. In the old account(s), click on Enter Transactions and pick Shares transferred between accounts.
    7. Select All securities and click on Enter/Done.
    8. If there is any cash in the old account(s), enter a Cash Transferred out of account to move it to the new account.

    When reporting on performance over a period that includes the transfer, include both the old and new accounts in the analysis. 


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  • aLfGordon
    aLfGordon Member ✭✭
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    Jim. I'm good at Quicken, but you are an unbelievable knowledge base. I appreciate your help.

This discussion has been closed.