I have an IRA account with multiple CDs, how do I handle three or four in one quicken account?

sdietterle
sdietterle Quicken Windows Other Member
in Investing (Windows)

I have an IRA account with multiple CDs, how do I handle three or four in one quicken account?

Answers

  • Tom Young
    Tom Young Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited January 15

    You simply treat them as "securities," securities that are in your IRA Account.

    Create 3 or 4 "manual" securities - I'm assuming that they don't have tickers - with distinct names so you can tell one from the other, then "Buy" each one in that Account. If they all exist individually right now in distinct Accounts, simply transfer them to the IRA Account.

    If these are straight forward bank securities where you buy them, hold them, and they mature at some point, then it's pretty easy. You buy them and when they mature you "sell" them for whatever you paid for them for no gain or loss, and the additional interest is them recorded as IntInc.

    Now there are also "traded" CD that you can buy and sell through a broker and these act a bit differently - there can be elements of accrued interest, they can have purchase discount or premium, you can sell them prior to maturity, but let's start with the simplest case first.

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