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Can I get Quicken to recognize my 401(k) Brokeragelink account as a retirement account?

majorgear

My Fidelity 401(k) plan allows me link a brokerage account to my employer 401(k) account so that I can invest in stocks outside of the plan. Quicken connects to Fidelity and downloads transactions for this account, no problem.

However, it categorizes it as a Brokerage account, not an Retirement account, which it is. This causes problem when trying to filter the dashboard/portfolio/transactions view to only show retirement accounts, as my brokeragelink account , which has all of my 401(k) savings, is excluded from the view.

Is there a way to have brokeragelink accounts show in the Investing→Retirement category instead of the Investment→Brokerage category? I look at that account "Type" settings but I don't see an option for "brokeragelink" or even just "retirement".

Until I fix this, Quicken will continue to show that I have no retirement savings!

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Accepted answers

majorgear

Switching the brokeragelink account from brokerage to the type if account it is linked too seemed to work. It would be nice if Quicken detected the account type and prompted the user to change it to another type.

All comments

John_in_NC

Assuming you can change the investment account "Type" in settings, I would switch it from a brokerage account to a retirement account with similar taxation patterns to your account. (And that really only matters if you use tax reports from within Quicken.)

For example, I have a Health Spending Account (HSA)-I leave it set as Roth IRA so it shows up under retirement (what I am using it for), and with similar taxation.

jacobs

To add a picture to what John suggested, when you select the account in the left sidebar and then click on the Settings icon in the bottom toolbar (or select Accounts > Settings from the menu), you will see a screen like this, where you can change the account type from Brokerage to 401(k):

Screenshot 2024-02-05 at 11.36.27 AM.png

majorgear