Investment Account Transfer of Assets

OldSwimmer1650 · September 30

I have an Investment account where the Account field is "IRA Robert" and the Payee is "Transfer of Assets ACAT Receive". This is a Fidelity account.

How do I categorize this entry?

Jim_Harman · September 30

Thanks for clarifying. So this is a Rollover of cash from an IRA that is not being tracked in Quicken to a Quicken IRA. It increases the net worth tracked in Quicken but you don't want it to appear in your Income and Expense report.

One way to enter this would be to go to the Fidelity IRA account and click on Enter Transactions. Select Deposit and enter the date and amount. Pick whatever Payee you want and in the Category box, enter the name of the Fidelity account in [square brackets]. That would make the money appear in the Fidelity account but not be accounted for in reports, the Tax Planner, etc.

NotACPA · September 30

We can't answer your question based upon what you've written. What was your intent for this transaction? What happened in the real world?

OldSwimmer1650 · September 30

I moved the cash $78,000 from LPL to Fidelity. I created (linked it) a Fidelity investment account in Quicken.

The imported line item shows:

Account field is "IRA Robert" and the Payee is "Transfer of Assets ACAT Receive",

Category & Memo are blank

If I make a category "LPL" to show where this deposit came from it'll show $78,000 income

The $78,000 is already in my investment account in Quicken. If I use a category "LPL" it then adds the $78,000 to income and that's wrong. So my question is how to I categorize this transaction without counting it as income.

Jim_Harman · September 30

Where in Quicken is the "imported line item" you refer to?

Normally when a transfer is recorded, the Category in each account will have the name of the other account in [square brackets]

Where are you seeing the transfer showing as income?

Tom Young · September 30

So we're dealing with a simple cash transfer between Accounts?

Delete whatever has been download in reference to this Transfer.

The in the old LPL Account enter a "Cash Transferred out of the Account" action, the correct $ amount, and the in the 'Transfer account" box enter the name of the new Account. Click on the Enter/Done button and the Transfer will be correctly accounted for.

OldSwimmer1650 · September 30

I don't have an LPL account in Quicken. The outside LPL account is closed.

All I have is an IRA account in Quicken.

In the Transactions window it shows

Date: 6/12/2025

Payee: Transfer of Assets ACAT Receive

Memo & Category are BLANK

What kind of category do I make for this transaction?

OldSwimmer1650 · September 30

Imported line is the the line in Quicken were you enter the payee, category etc…

OldSwimmer1650 · September 30

When I do a Income/Expense report. I have to add the cash to the account before I transfer it.

Jim_Harman · September 30

Thanks for clarifying. So this is a Rollover of cash from an IRA that is not being tracked in Quicken to a Quicken IRA. It increases the net worth tracked in Quicken but you don't want it to appear in your Income and Expense report.

One way to enter this would be to go to the Fidelity IRA account and click on Enter Transactions. Select Deposit and enter the date and amount. Pick whatever Payee you want and in the Category box, enter the name of the Fidelity account in [square brackets]. That would make the money appear in the Fidelity account but not be accounted for in reports, the Tax Planner, etc.

Investment Account Transfer of Assets

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