Re: Simplest way to handle IRA -> Roth conversion

Quicken Personal Finance Discussions - Quicken - personal finance software discussions 

Yahoo!   Google   Windows Live   del.icio.us   digg   Netscape

Subject Author Date Re: Simplest way to handle IRA -> Roth conversion danbrown 11-08-2008  Re: Simplest way to handle IRA -> Roth conversion Gary 11-08-2008  Re: Simplest way to handle IRA -> Roth conversion Ron 11-10-2008  Re: Simplest way to handle IRA -> Roth conversion Ron 11-10-2008  Re: Simplest way to handle IRA -> Roth conversion John Pollard 11-10-2008  Re: Simplest way to handle IRA -> Roth conversion Gary 11-10-2008  Re: Simplest way to handle IRA -> Roth conversion Gary 11-10-2008  Re: Simplest way to handle IRA -> Roth conversion Gary 11-10-2008  Re: Simplest way to handle IRA -> Roth conversion Gary 11-10-2008  Re: Simplest way to handle IRA -> Roth conversion Ron 11-10-2008  Re: Simplest way to handle IRA -> Roth conversion Oilcan 11-11-2008  Re: Simplest way to handle IRA -> Roth conversion Han 11-11-2008  Re: Simplest way to handle IRA -> Roth conversion Ron 11-11-2008  Re: Simplest way to handle IRA -> Roth conversion Oilcan 11-11-2008  Re: Simplest way to handle IRA -> Roth conversion Gary 11-11-2008  Re: Simplest way to handle IRA -> Roth conversion Gary 11-10-2008
Posted by Gary on November 10, 2008, 9:18 pm Please log in for more thread options > "Shares transferred between accounts" will do it, no? > > But I'm guessing you'd like the tax liability to be reflected in the > event. I'm interested in how folks do that as well. I have transferred > some stock from an IRA to a Roth this year as well. In the categories > window, though, Q does not permit assigning a tax form to a transfer. > It does permit the account itself to be specified as tax deferred, and > transfers - in or out - to be associated with a tax form. I had > correlated transfers out with the 1099-R. But no 1099-R item appears > in my tax reports or in the tax planner. Anyone know why? > > Don't mean to hijack the thread. Hoping I'm clarifying the question.... > > -Ron Where is "shares transferred between accounts"? How do I get to it? I use Quicken Premier 2008. Posted by Gary on November 10, 2008, 9:20 pm Please log in for more thread options > "Shares transferred between accounts" will do it, no? > > But I'm guessing you'd like the tax liability to be reflected in the > event. I'm interested in how folks do that as well. I have transferred > some stock from an IRA to a Roth this year as well. In the categories > window, though, Q does not permit assigning a tax form to a transfer. > It does permit the account itself to be specified as tax deferred, and > transfers - in or out - to be associated with a tax form. I had > correlated transfers out with the 1099-R. But no 1099-R item appears > in my tax reports or in the tax planner. Anyone know why? > > Don't mean to hijack the thread. Hoping I'm clarifying the question.... > > -Ron Where is "shares transferred between accounts"? How do I get to it? I use Quicken Premier 2008. Posted by Gary on November 10, 2008, 9:22 pm Please log in for more thread options > "Shares transferred between accounts" will do it, no? > > But I'm guessing you'd like the tax liability to be reflected in the > event. I'm interested in how folks do that as well. I have transferred > some stock from an IRA to a Roth this year as well. In the categories > window, though, Q does not permit assigning a tax form to a transfer. > It does permit the account itself to be specified as tax deferred, and > transfers - in or out - to be associated with a tax form. I had > correlated transfers out with the 1099-R. But no 1099-R item appears > in my tax reports or in the tax planner. Anyone know why? > > Don't mean to hijack the thread. Hoping I'm clarifying the question.... > > -Ron Where is "shares transferred between accounts"? How do I get to it? I use Quicken Premier 2008. Posted by Gary on November 10, 2008, 9:24 pm Please log in for more thread options > "Shares transferred between accounts" will do it, no? > > But I'm guessing you'd like the tax liability to be reflected in the > event. I'm interested in how folks do that as well. I have transferred > some stock from an IRA to a Roth this year as well. In the categories > window, though, Q does not permit assigning a tax form to a transfer. > It does permit the account itself to be specified as tax deferred, and > transfers - in or out - to be associated with a tax form. I had > correlated transfers out with the 1099-R. But no 1099-R item appears > in my tax reports or in the tax planner. Anyone know why? > > Don't mean to hijack the thread. Hoping I'm clarifying the question.... > > -Ron Where is "shares transferred between accounts"? How do I get to it? I use Quicken Premier 2008. Posted by Ron on November 10, 2008, 11:18 pm Please log in for more thread options > Where is "shares transferred between accounts"? How do I get to it? I > use Quicken Premier 2008. Gary, you've got the IRA set up as an investment account, right? In the transactions register, click on Enter Transactions and scroll the listbox down. Be aware of what I said above, the "transfer" will actually produce a shares removed action in the original account and shares added action(s) in the target account. (There will be as many entries in the target account as there are lots being moved, so as to preserve the basis.) John, understood about selling and "re-buying," but won't that change the basis? Not good for tracking ROI, etc. I guess Quicken is not yet sophisticated enough to compute both the tax liability and maintain performance history when doing an IRA=> Roth conversion in kind. You can sense that from the help file, which fails to provide detailed focus on such a transaction. -Ron Similar Threads Posted Roth 401k October 3, 2006, 12:51 pm Converting IRA to Roth IRA January 2, 2007, 5:47 pm Roth with Traditional 401(k) July 8, 2009, 12:57 pm Roth 401(k) contributions and matching January 30, 2010, 5:48 am Q2007 - Roth IRA Gain/Loss Calculation April 24, 2007, 1:30 am Help with QIF conversion to IIF January 5, 2008, 12:38 pm 529 Conversion November 29, 2008, 12:13 pm yet another question about QIF to OFX conversion April 9, 2007, 8:43 am Portfolio Conversion April 10, 2008, 10:45 am file conversion June 6, 2009, 11:32 pm