Accounting for Limited Partnership Interest?

Quicken Windows Subscription Member ✭✭
in Investing (Windows)
I currently track the underlying securities for a Family Limited Partnership (FLP) in two quicken investment accounts (different brokerage firms). I also maintain Quicken accounts for several trusts that are investment partners (% owners) in the FLP but also invest directly in conventional securities via their own brokerage accounts. Is there any way to create a "placeholder" security for the trust accounts that would reflect a fixed percentage of the current value in the FLP accounts? In some respects, the FLP is like a private mutual fund, but I haven't identified any way to automatically allocate a portion of the value of the FLP account(s). Any good ideas???

Comments

  • Quicken Windows Subscription SuperUser ✭✭✭✭✭
    One way to handle this would be to create the FLP as a fake security in a special account in each person's Quicken file. 

    Say there are 3 people Alice, Ben, and Charlie and Alice owns 50%, Ben 30%, and Charlie 20%.

    Set the total number of shares in the FLP to a round number like 1,000. Then Alice's Quicken file gets 500 shares, Ben's 300, and Charlie's 200.

    Say the value of the FLP is $1.2 million. Then each share is worth $1,200.

    Set this share price in each person's Quicken file and they will get their share of the total value. 
    QWin Premier subscription

Welcome!

It looks like you're new here. Sign in or register to get started.
Sign In
Register

Welcome!

It looks like you're new here. Sign in or register to get started.
Sign In
Register

Quick Links

Categories