Change account classification to Retirement.

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Mary OBrien
Mary OBrien Member ✭✭✭
in Download, Add/Update Accounts (Windows)
The account list I have pinned to the left and the Account List has an IRA account classified as Investment. It should be Retirement. How do I move it to Retirement? Please do not tell me create a new account and move all the transactions.

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  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    If the account was created as a IRA account then in fact the only account classification would be Retirement.  The fact that it is listed under Investment implies that it was created a brokerage account.

    Given that there is three ways to handle this, the "most proper" would be go into the account details (Ctrl+Shift+E) and change/make sure that the "Tax deferred" is set to Yes.  When you do that a button show appear at the bottom to convert the account to an IRA account.

    To just change where the account is displayed, go into the Account Details -> Display Options tab and change the Account intent to Retirement.

    And even though you said not to suggest it, creating a new account and moving the transactions is actually quite easy to do now that they have a new "Move Transactions" on the gear icon menu in the upper right.
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  • Mary OBrien
    Mary OBrien Member ✭✭✭
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    The account is marked as tax deferred. I have attached an image of display options and there is no where to change the account intent.
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    What is the account type on the General tab?
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  • Mary OBrien
    Mary OBrien Member ✭✭✭
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    529 Plan Whatever that is. It is really a self-directed IRA
  • Chris_QPW
    Chris_QPW Member ✭✭✭✭
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    Well I haven't setup a account with that type but going on what you have said I take it that the converting to another type isn't possible and it has a restriction.where you can't change the intent.

    So that only leaves creating a new account, and moving the transactions.
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  • Mary OBrien
    Mary OBrien Member ✭✭✭
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    Thank you for your help. This should be an editable field. When I am feeling adventurous I will try setting up a new account and moving the transactions.
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