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Posted by Oilcan on January 26, 2008, 4:09 pm
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Hi Jerry!
John recommendation is correct on the way to get you out of your nightmare.
For my personal needs - I prefer to keep it in the same Quicken Account.
With my case, in 25+ years with my company, my employer has changed 401(k)
admin three times - each resulting in transfers (Employer (I suspect this
was admin by Wells Fargo) to State Street, State Street to State Street -
Citi, and now Vanguard).
As I said in my post there are alternatives. Sit back and think what you
would like to see.
Oilcan
> JerryC wrote:
>> So now that the damage is done, can I use your technique below and
>> just delete the downloaded transactions? Won't get get me back to
>> fairly good shape?
>
> Yes, you can delete the downloaded transactions in the new account, sell
> the securities in the old account and transfer the cash to the new
> account, and buy the new securities there.
>
> Quicken wants to treat the transfer of "cash" into a retirement account as
> a "comtribution". I don't know all the ramifications of that in your
> situation, but I know how to avoid it.
>
> When you sell all the securities in the old account, use the resulting
> "cash" to purchase a dummy security in the old account, call it "Dummy
> Cash", or "Cash Transfer" or some such. Then use the Quicken "Shares
> transferred between accounts" transaction to transfer that dummy cash
> security to the new 401k account. Then sell the dummy cash security in
> the new 401k account to generate the actual cash to purchase the other
> securities.
>
> --
> John Pollard
> First initial underscore Last name at mchsi dot com
> Please reply to newsgroup
>
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