how do I add a CD to an IRA without purchasing it and how do I update the value.

Skagit · November 2022

I see a response to this that says create the CD in the security list, but when I go to add an item in the security list it asks for the ticker symbol. There is no symbol for a CD. How do I add a CD to the account and, once added, how do I manually update the price. Also I have two CD's purchased at different times, so the current value is different for them at each month end.

Frankx · November 2022

Hi again @Skagit,

Okay, for a brokerage account, you'll need to take these steps"

1) Open the Security List > Click on the "Add Security" button;
2) In the pop-up window titled "Add Security to Quicken" - click on the "Click here" link located at the bottom;
3) In the next window - enter a ticker symbol - that you create - for this CD; then enter a name for it; and select "CD" from the drop-down for the "Security type; (see the example below) the click "Next";

4) On the next screen - chose and "Asset class" and enter the CD's maturity date > click "Done". If the CD has a CUSIP number you can get that from the brokerage firm and enter that.
5) Open the brokerage account register> you will need to enter the "purchase" of the CD here. Keep in mind that the brokerage CD's are denominated in 100's - so a for $10,000. CD, you would be "buying" 100 shares of it. Make the buy transaction in the register.
6) you may be able to get downloads of the "price" of a CD from the brokerage account through its CUSIP number. Otherwise you'll need to manually update the "prices" in Quicken.

If you have any followups, post back here.

Frankx

Frankx · November 2022

Hi @Skagit

Is the account that holds these 2 CD's a bank account or a brokerage account?

Frankx

Skagit · November 2022

It’s a brokerage account.

Frankx · November 2022

Hi again @Skagit,

Okay, for a brokerage account, you'll need to take these steps"

1) Open the Security List > Click on the "Add Security" button;
2) In the pop-up window titled "Add Security to Quicken" - click on the "Click here" link located at the bottom;
3) In the next window - enter a ticker symbol - that you create - for this CD; then enter a name for it; and select "CD" from the drop-down for the "Security type; (see the example below) the click "Next";

4) On the next screen - chose and "Asset class" and enter the CD's maturity date > click "Done". If the CD has a CUSIP number you can get that from the brokerage firm and enter that.
5) Open the brokerage account register> you will need to enter the "purchase" of the CD here. Keep in mind that the brokerage CD's are denominated in 100's - so a for $10,000. CD, you would be "buying" 100 shares of it. Make the buy transaction in the register.
6) you may be able to get downloads of the "price" of a CD from the brokerage account through its CUSIP number. Otherwise you'll need to manually update the "prices" in Quicken.

If you have any followups, post back here.

Frankx

Skagit · November 2022

Thank you thank you. That was SO helpful! Now when I want to redeem the CD what's the procedure?

Frankx · November 2022

Hi again @Skagit

When you redeem the CD, you will need to treat it as a sale in the brokerage account for the "par" value at the date of sale, presumably that will produce no gain or loss at maturity, and if there is a difference, I suggest it be treated as an adjustment to the bond's interest income.

Frankx

how do I add a CD to an IRA without purchasing it and how do I update the value.

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