How can I properly record a Roth to traditional IRA recharacterization?

thetallestpaul
thetallestpaul Quicken Windows Subscription Member ✭✭
edited December 30 in Registers & Transactions (Windows)

I have done a recharacterization and a roth conversion this month for tax purposes. Quicken is having numerous problems with importing the transactions in a logical way. Is there a way to record these transactions manually?

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Answers

  • Quicken Kristina
    Quicken Kristina Quicken Windows Subscription Moderator mod

    Hello @thetallestpaul,

    Thank you for letting us know you're running into this problem. To clarify, are you converting a Roth IRA to a Traditional IRA? What is happening when the transactions import? Are you importing from a QFX file, through One Step Update, or via a CSV file?

    I look forward to your reply!

    Quicken Kristina

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  • thetallestpaul
    thetallestpaul Quicken Windows Subscription Member ✭✭
    edited December 30

    I am converting it, but only after recharacterizing it.

    So in total I have transactions to recharacterize from Roth to traditional (for 2025 contributions), and then a transaction to convert the balance back to Roth.

    I am downloading the transactions directly from my custodian, but I am interested in manually reentering the past transactions as they are not adding up correctly at all. I am not particularly concerned with using Quicken for tax calculations, but I would like the balances to make sense if possible.

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