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IRA transfer issue

Hi all,

I have Quicken 2004 R5. I "invested" in a $2000.00 Roth IRA in 1997 (and it's appreciated all of $10.80 since then >:(

I've finally transferred it to a new account and am trying to reconcile within Quicken.

In my original IRA account in Quicken, I have three line items:

a. XIn (from savings account) +2,000.00 b. IntInc +1.75 c. IntInc +3.08 d. Bought (MIGBX) 143.51 shares @ $13.97 (= $2,004.83)

Securities Values: $2,004.83 - Cash Balance: $0.00 - Total Market Value: $2,004.83

The ups and (way) downs of the stock market during these 7+ years are not line itemed, nor are there any other entries since then as my statements were AWOL at times due to relocations. I have some of them now, but won't bother entering them in. However I have $5.97 to account for as that will total the $2010.80 now being transferred to the new account.

Further complicating is the share quantity now is up to 182.138 while the share price is down to $11.04 (= $2010.80).

So how do I adjust the original entered shares and price to reflect the correct values now?

I hope that once I do that, I'll be able to transfer the totals into my new account.

Thanks for the assistance,

Bill M.

Reply to
Wilhelm
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Since you say you do not care when or how the additional shares were purchased, just enter a SharesIn for MIGBX for 36.628 shares (182.138 - 143.51); you will kill two birds with one stone. You will wind up with the correct number of shares and your holdings (total market value) will be correct.

Reply to
John Pollard

"John Pollard" wrote in news:3a9d5fF68fruhU1 @individual.net:

Thanks for the reply, John. However I'm unable to find a "SharesIn" selectable.

With the new IRA, and the "Transactions" tab selected, I click "Enter Transaction". This opens a pop-up box with "Shares Bought" as the window title. and "Buy - Shares Bought" as the default selection in the "Enter Transaction" drop-down menu.

But there doesn't appear to be a "SharesIn" selection. There is an "Add - Shares Added", but that requires an entry in the "Number of shares" (the

36.628 that you mentioned) and a field for "Price paid ... per share".

In using the Add - Shares Added selection, I enter the 36.628 amount of shares as you suggest and 0 as the price paid.

Unfortunately, and perplexingly, the "Securities Value" / "Total Market Value" jumps to $2516.52. I don't see how or why this would occur as I have the four line items (as listed above) and this new entry. Further, even is this odd jump didn't occur, the new tally wouldn't reflect the 2010.80, and that I need it to do. This might be a bug with Quicken 2004.

I appreciate your first suggestion and am continuing to pursue it. Do you (or anyone) have any other comments or suggestions concerning this issue?

Bill M.

Reply to
Wilhelm

Wilhelm wrote in news:Xns9620E88607310McGlothlin@65.24.7.150:

I see why this occurred. I added the shares and inputted "0" as the price per share, so Quicken defaulted the price per share as being the original price per share ($13.97). The math:

36.628 * 13.97 = 511.69. 511.69 + 2004.83 = 2516.52.

As to the problem, I'm less interested in the amount of shares being correct, as I am the Securities Value. I'd like it to be 2010.80. So I need to increase the existing Securities Value from 2004.83 to 2010.80.

Bill M.

Reply to
Wilhelm

Yeah, I failed to notice that you specified you were using Q2004, so I worked from Q2002. Transaction names have changed since Q2002.

"Add - Shares Added" is the equivalent to SharesIn.

Reply to
John Pollard

Quicken uses the most current price in your price history to value your securities; in your case, apparently the only price you have in your price history came from the original purchase transaction.

The prices used to value your security come from your price history file. You can update that file in several ways.

1.) When you enter an investment transaction, like a Buy, if no price for that security already exists for that date in your price history, Quicken will add the price/share of the purchase to your price history. 2.) You can have Quicken download prices for your securities if those prices are available at S&P Comstock (for current prices) or Iverson (for historical prices).

Online > One Step Update > (Pin Vault password, if necessary)

Check the box next to "Download quotes ....". Look at "Select quotes to download" and be sure your security is checked. Update now.

Or,

Investing > Security Detail View > Update > Download Quotes

3.) You can manually enter prices in your security price history

Investing > Security Detail View > (select the security) > Update > Edit Price History

If you want to continue to have the market value of the account correct, you had best get the number of shares correct. The market value of the security is always going to be the number of shares multiplied by the most current price. The way to keep the market value correct is to keep the number of shares correct and keep the current price correct.

And when you go to transfer the shares to another account, you will want the number of shares transferred to be correct too.

See above. Keep your number of shares correct. Keep your price history correct.

Reply to
John Pollard

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