Is there a way to change an account entered wrongly as a a 403B to IRA.

universeuniverse Member ✭✭
edited February 2018 in
If not, a new account and transfer all transactions to that account?

Is only option to set up IRA with current shares, unit prices, and balance and have history in two accounts.

Comments

  • Howard RoarkHoward Roark Member ✭✭✭✭
    edited August 2016
    Quicken year, version and release? Operating system?

    [Please do NOT use anything labelled "Answer" to supply the information.]
  • edited July 2016
    I am not the OP, but have exactly the same problem... Quicken 2011, Windows 7.
  • universeuniverse Member ✭✭
    edited February 2018
    I thought I had entered my information but just in case - Quicken 12, Windows 7
  • Howard RoarkHoward Roark Member ✭✭✭✭
    edited August 2016
    You can't "convert" a Quicken 403b account to a Quicken IRA account.

    Why do you want to make this change?
  • edited July 2016
    Because in my case I was trying to create an IRA account and didn't notice the default setting. To the OP I would say that it looks like we might have set up a new IRA account, either copy the transactions or "re-download" after deleting the "old" account.
  • edited July 2016
    Just as a follow up, I did as I described... it was not particularly difficult because I did not have a lot of transactions. Your workaround might be good and would avoid the need to copy and paste a lot of transactions. You could transfer the balance out of the old account and into the new, I suspect. You could also "hide" the old account.
  • universeuniverse Member ✭✭
    edited February 2018
    Leaving behind for the moment setting up new account and in response to NoWay Jose question about why does it matter that the account is identified as a 403b or IRA..this is what happens.  1) I can download transactions and share prices for the mutual funds in my IRA and 403B, but not CREF.  I entered manually on 2/14 and that is the date that shows while the mutual funds show 2/15.  Also even though I entered the correct IRA account nunber in the Edit section, when it downloads it changes to the 403B number so I am thinking that the designation does matter.  I have other for classifications of CREF even though this does  not lend itself to meaningful allocation.  Maybe it is just the case that CREF dos not lend itself to Quicken's features, but then I wonder why Traditional does.  If someone indeed is downloading prices to CREF, I surely would like advice on what I am doing wrong.
    My history is a long one with TIAA-CREF and I am not likely to change because I have to do some things manually, but if I need to do something I am not doing, I would like to know.
  • Howard RoarkHoward Roark Member ✭✭✭✭
    edited August 2016
    [I am not understanding this sentence: "I can download transactions and share prices for the mutual funds in my IRA and 403B, but not CREF". Can you elaborate? I thought we were talking about just one account ... possibly needing to be of a different type in Quicken.]

    Your concern about being able to download to the account is the only one I could think of that might require the Quicken account type to be different; but your original post didn't make that clear.

    But -  assuming you have a lot of data in the "incorrect" Quicken account type - you might want to test to see whether it is the account type that matters; or whether it is just not possible to download your IRA account from TIAA-CREF. Getting transactions from one Quicken investment account to another is a cumbersome process, so I wouldn't suggest trying it unless there is something meaningful to be gained.

    You could create a New (test) Quicken file. Create one IRA account in that test file; set it up to download from the TIAA-CREF IRA account and see what happens.

    If you can successfully download the IRA account to the test file, then you might want to undertake the job of changing your existing 403b.
  • universeuniverse Member ✭✭
    edited February 2018
    Tried test account but instead of downloading into new ira did so into present IRA (or tried to untill I deleted each proposed entry).  I will continue to ponder the dilemma, but let me leave behind for the moment the question of 403b vs IRA designation and deal with one question.  Are other TIAA-CREF account holders able to update CREF prices as well as mutual funds?  If the answer is yes, I need to figure out what is obviously a singlular problem and that may require going to TIAA and having them with me on the computer.  Or just continue with manual correction for the CREF funds and letting the automatic function work for the transactions and mutual fund share prices.
  • Howard RoarkHoward Roark Member ✭✭✭✭
    edited August 2016
    I suggested a test FILE, not a test "account".

    In my TIAA-CREF (after-tax annuity) account, I get prices in a couple of ways:

    Whenever I download, I get a dummy transaction for each TIAA-CREF security I own (for zero shares) that contains the price of that security for that day. Accepting that transaction updates my Quicken price history ... the transaction can be deleted immediately after it is Accepted since the Quicken price history is not changed by deleting a transaction.

    I can also go to the TIAA-CREF website and download a .CSV file of historical prices for any security (date range of my choosing). As I recall, the file can't be imported directly into Quicken without modification, but the prices in the .CSV file are readable - I just use that for month-end prices I may have missed.
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