Account still remains after merger with another account

dnovak3
dnovak3 Quicken Windows Subscription Member ✭✭
edited April 23 in Investing (Windows)

Using Quicken classic for windows 10, R55.15

I merged a Schwab 401-k account with an IRA account but the 401-k account still shows up on my portfolio and account balances and essentially lists each ETF I hold twice. This persists although I update transactions often. Quicken won't let me delete the original 401-k account. How do I correct this situation?.

Thanks.

Dennis

Answers

  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭

    How did you process this ‘merger’ in Quicken. It is usually not adequate to rely on the financial institutions to get it right.

    The best way in my opinion in most cases is to use the Shares Transferred between accounts function in the 401k account to remove the shares from that account and add them to the IRA account. That normally will take the 401k account to $0 value and include the by-lot info in the IRA account.

    There should be no reason to delete the now $0 401k account because it contains useful important information.

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