QWin 2016: How to add an Annuity account purchased with funds from other investment accounts in Quic

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Brian246
Brian246 Member ✭✭
edited November 2018 in Investing (Windows)
I am using Quicken for Windows 2016. I have 5 investment accounts already setup in Quicken that I have had for years. These are setup so I can download the returns on these investments. I recently purchased an annuity with some of the funds in each of those accounts. How do I add the new annuity to Quicken using the funds from the other accounts. I need to know what type of account to use, and I have not found a way to transfer the funds to the new account.

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  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited November 2018
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    If you are downloading transactions on the old accounts, you should see Withdraw transactions where the cash left those accounts. Change each Withdraw to a Cash Transferred Out of Account and select the new annuity account as the destination.
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  • Brian246
    Brian246 Member ✭✭
    edited October 2017
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    Thanks for the quick response. Could you also tell me what type of account I should use to create the new account? Would that be a brokerage account, or IRA etc? I would assume I leave the initial balance 0 so I can then transfer in the money?
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited November 2018
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    Usually it would be a brokerage account.

    Yes, set the initial balance to zero. The transfers will bring in the cash, then you buy the annuity with the cash
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  • J_Mike
    J_Mike SuperUser ✭✭✭✭✭
    edited October 2017
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    Jim Harman said:

    Usually it would be a brokerage account.

    Yes, set the initial balance to zero. The transfers will bring in the cash, then you buy the annuity with the cash

    For my annuity, I use a Brokerage account with the setting 'Tax Deferred' checked.
    QWin & QMac (Deluxe) Subscription
    Quicken user since 1991

  • Brian246
    Brian246 Member ✭✭
    edited October 2017
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    I just wanted to reply back to say thanks. Your suggestion worked perfectly. I'm all set.
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