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Wealthscape brokerage accounts

markdhamill
markdhamill Member ✭✭
edited February 23 in Investing (Mac)
My wife and I set up brokerage accounts on Wealthscape.

I can create brokerage accounts easily enough in Quicken and download transactions. But her account includes two distinct retirement accounts: one for a traditional IRA and one for a rollover IRA. Supposedly each account also counts a joint account.

My questions:

1. Will Quicken double count the joint account in the net worth total?
2. Is it possible to configure Quicken so I can see how much is in the traditional, rollover and joint accounts for each brokerage account?

Answers

  • MontanaKarl
    MontanaKarl Member, Windows Beta, Mac Beta Beta
    When you first connect to Wealthfront via Quicken, it should offer all accounts for that login... and let you either link to existing accounts or create new ones.  Each account there should correspond to a single account in QMac.  So, your question 2 is that each account - the traditional, the rollover and each brokerage, should be separate accounts in QMac and you can see the balances of each.

    All accounts will count in your net worth total unless you exclude them (click the Edit button in the report), but will NOT double them up.  (If you wanted individual net worths, that is not possible as there is no way for the report to display 50% of a joint account.)

    It isn't possible as far as I know to have a joint IRA or joint rollover IRA.  So, I assume you mean that the brokerage/investment account(s) are joint accounts?


    Quicken Windows and Mac subscription.  Quicken user since 1990.

  • markdhamill
    markdhamill Member ✭✭
    edited February 23
    Thanks for your response. I made a mistake in my question. We're not using Wealthfront, but Wealthscape. I deleted the account and tried again. I was not shown a list of subaccounts, but I was allowed to categorize the brokerage account as a IRA, 401K etc. Afterward I could add another account, but the dialog took me through another set of dialogs that would have required me to enter the Wealthscape account information again.

    Also, you are right, our joint account is not a tax advantaged account, but a general investment account.
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