How do I add a Traditional IRA Savings account to QMac?

erick00

The account is not a brokerage account. It is a savings account but also an IRA account. There is no option for IRA savings account as the account type. If I create it as a savings account it does not display in the 'Retirement' account grouping. If I create it as an investment account there is non option for 'Traditional IRA' only 'Roth IRA' and 'SEP-IRA". Also, it is NOT an investment account in any case.

Jon

As you've discovered, Quicken Mac doesn't have a retirement savings account and it also doesn't allow you to group a regular savings account in with your other retirement accounts. So you're going to have to decide what to compromise on. You can either have the wrong type of account in the right place, or vice versa.

Technically there's no reason you can't use something like a Traditional IRA account even though you're not going to be investing. You can still have cash in the account & enter interest every month just like with a savings account. The only drawback would be that you could not set up the account for online access, you'd have to manage it manually.

Unfortunately, I doubt there will ever be a retirement savings account of the type you're looking for. Investing & non-investing accounts are fairly different and the developers have not been receptive to previous suggestions for allowing them to be grouped together.

erick00

Thank you for the excellent response. I still don't see why quicken cannot classify an account as both a savings account and IRA account also. Alas, that's the way it is for now.

NotACPA

There's no known reason why they "CAN'T" … they just haven't.