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Why is there no "rollover" selection for transactions in IRA accounts?

Cindi Anderson

It is very common to do a direct rollover from one custodian to another. So why is there no pulldown for a Direct Rollover? Instead you have to do a cash transfer out, then it makes it a contribution and puts it in income for the year, which it not correct. (Or a Withdrawal and Deposit which does the same.)

Thank you

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Comments

Quicken Anja

Hello @Cindi Anderson,

Thank you for taking the time to reach out.

I went ahead and changed your post to an Idea so other users who have the same or a similar request can vote on your idea by clicking the up arrow (see below).

Ideas are also reviewed by our Development and Product teams in order to improve Quicken and implement new features requested by customers.

Thank you!

BobS2

This seems to be doable already by choosing "transfer shares between accounts".

If you actually hold actual cash in the retirement account, buy a money market and transfer the shares in kind. The fund doesn't even need to be real, such as BrokerXMM.

Then sell the MM in the receiving account for cash if you like.

If this transfer is between non-taxed accounts this should be a tax free transaction.

I haven't actually ever done this since when I transfer between accounts its always actual investment shares.

That said, having a predefined "cash transfer (ROLLOVER) between accounts" would be useful.

BobS2

https://community.quicken.com/discussion/comment/20501355#Comment_20501355

Great idea, but the Vote counter up-arrow doesn't work. I tried to add my vote with zero affect.

Quicken Anja

Hello @BobS2,

Thanks for letting us know! I just tested the up-vote button, and it seems to be working on my end. Could you tell us more about what happens when you click it? If possible, a screenshot would also help us better understand what you’re seeing.

If needed, please review this Community FAQ for instructions on how to attach a screenshot. Alternatively, you can also drag and drop screenshots to your response if you are not given the option to add attachments.

Thank you!

BobS2

Thanks for the response. It's been awhile since I had problems with up-vote button, so for now its moot. Just curious, since I have done some coding in a past life, what do you expect to get from a screen shot of a button malfunction ? [Removed - Disruptive]

Quicken Anja

@BobS2 A screenshot is helpful because it shows exactly what the user is experiencing—whether the button is greyed out, unresponsive, missing, overlapping with something else, or showing an error. Those details let us determine whether the issue is account-specific, browser-related, or a bug on the platform.

If it is a platform issue, our service provider requires visual examples and specific behavior details in order to investigate and apply a fix. That’s why we request screenshots whenever something in the interface isn’t functioning as expected.

If the issue isn’t happening anymore on your end, then there’s nothing further you need to do at this time. If it comes back, feel free to share what you’re seeing and we can take another look.

Thanks.

Jim_Harman

@Quicken Anja

Here is what happens after I click on the up arrow to vote for this Idea. I must refresh the screen to get the vote to register. Normally this works OK, but this morning it has done this on multiple Ideas

I am running Chrome on Windows 11.

Quicken Anja

https://community.quicken.com/discussion/comment/20523536#Comment_20523536

@Jim_Harman Thank you for sharing that screenshot and details—that's very helpful so we can get it reported to Vanilla!

Does this only occur with just this Idea post, or are you seeing this with any Idea you try to vote on?

Thanks!

SeaStar

I agree. The current Q default is incorrect in its assumption that any cash coming into an account is considered as a Tax Year contribution. This is a programming error. I strongly encourage that this idea (corrective action) get implemented soon. As back-up, I just spent a couple of hours trying to move rollover cash from one IRA to another and got stuck in the maelstrom that it cannot be easily done with cash position. An update to correct program would help Users a lot. Current situation needlessly makes Users manipulate Cash position for what should be the usual, a quick and easy transaction. I'm counting on Team to release an update. Thanks.