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Quicken 2014
Old 10-05-2013, 10:09 AM   #1
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Quicken 2014

Has anyone purchased and used Quicken 2014 yet?? If so, is there an option for setting up a ROTH IRA yet?? Suck a basic need that is still missing from the older versions....
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Old 10-05-2013, 10:53 AM   #2
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Interesting.

What feature are you looking for in a ROTH specific account in Quicken? At present, you can designate an account as an IRA.
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Old 10-05-2013, 11:04 AM   #3
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My Quicken 2012 can set an account to Roth IRA.

In the account details:

Account Type: Roth IRA
Tax Deferred: Yes
Single Mutual Fund Account: No

I've got about 20 of them as I Roth convert.

I don't import much from Quicken to Turbo Tax, so I can't say if that works perfectly for Roth IRA's or not.

Select IRA or Keogh Plan when setting up the account. I'm not sure where the Roth selection comes up in the process.
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Old 10-05-2013, 11:36 AM   #4
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Originally Posted by Animorph View Post
I'm not sure where the Roth selection comes up in the process.

7 screens into the account set up process there is a screen that lets you select the type of IRA. Roth IRA is one of those choices.
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Old 10-05-2013, 12:13 PM   #5
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I have Quicken 2011- so perhaps that is my problem. Had selected IRA as account type, but did not have Roth option. Will look at this, and if missing, will be upgrading-- thank you!!
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Old 10-05-2013, 12:15 PM   #6
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Originally Posted by bizlady View Post
I have Quicken 2011- so perhaps that is my problem. Had selected IRA as account type, but did not have Roth option. Will look at this, and if missing, will be upgrading-- thank you!!

I have 2011 as well and it is an option.
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Old 10-05-2013, 12:26 PM   #7
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Where? i use Q2011 and it isn't an option for me. Even tried setting up a new account to see if I missed it. An IRA is an option, but not a Roth IRA.
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Old 10-05-2013, 12:47 PM   #8
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1. Go to account list.
2. Click add an account (bottom right)
3. Click IRA or Keogh and next
4. Click advanced set up at bottom of window
5. Click enter transactions manually and next
6. Enter name of account and click next
7. Don't enter opening balances (just trying to get you to the page that shows Roth) click next.
8. Click next when the "what securities are in this account window opens).
9. Click yes when the "you have not entered any securities" window opens.
10. Click done
11. This opens the IRA/Keogh account page.
12. Select who the account is for (you or spouse) and the type (Traditional, Roth, Education, etc
12. Click done.

This can also be done by linking directly to your brokerage account if I recall correctly.
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Old 10-05-2013, 12:58 PM   #9
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my version is Quicken 2011 Home and Business
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Old 10-05-2013, 05:22 PM   #10
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That looks about right for Quicken Premier 2012 as well.

I did have a problem getting the right account type if I entered the brokerage name and let it download the info. I don't think it was even an IRA if I did that. I think the advanced entry without entering the provider name and doing the download is the key. Once the account is set up you can turn on the online download and link the account really easily.
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Old 10-05-2013, 07:46 PM   #11
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I have Quicken 2011- so perhaps that is my problem. Had selected IRA as account type, but did not have Roth option. Will look at this, and if missing, will be upgrading-- thank you!!

WELL YIPPEE__ we found it. Had to create new accounts to see it, and all this time as we updated the software, the accounts rolled over. We had tried to find and change account types to no avail.

THANK YOU! :-)
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Old 10-05-2013, 08:25 PM   #12
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Please excuse my ignorance, but what difference does it make whether IRA's are roth or not? Are you setting up some kind of account for anticipated future tax liability for your non-roth IRA's? If so, how so?

Your financial institutions will handle actual tax liability. Personally, I make no manual entries in Quicken for my IRA's. I use the verified downloads from my financial institutions to Quicken with "ROTH" or "ROLLOVER" in the titles.
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Old 10-05-2013, 08:49 PM   #13
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Looks like I'll have to upgrade to 2014 since I now run 2011 so my 3 year window will close in April 2014. I'm not looking forward to it but I think the way I use Quicken the upgrade should go ok. Crossing my fingers.
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Old 10-06-2013, 08:28 PM   #14
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Please excuse my ignorance, but what difference does it make whether IRA's are roth or not? Are you setting up some kind of account for anticipated future tax liability for your non-roth IRA's? If so, how so?
There are a few places where Quicken will do some things with taxes. One I can think of is in the Retirement Planner AKA Lifetime Planner.

Honestly I cannot recommend using any of Quicken's tax-related features. It is just not very good.
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Old 10-07-2013, 08:00 AM   #15
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Please excuse my ignorance, but what difference does it make whether IRA's are roth or not? Are you setting up some kind of account for anticipated future tax liability for your non-roth IRA's? If so, how so?

Your financial institutions will handle actual tax liability. Personally, I make no manual entries in Quicken for my IRA's. I use the verified downloads from my financial institutions to Quicken with "ROTH" or "ROLLOVER" in the titles.

Though I have not has a chance to update my "new Roth status" since finding it, we do use the Planner. It seems it looks at tax deferred accounts as taxable, and forces them into the RMD at 70. Since these accounts are not taxable, I think the big picture will be more accurate.
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Old 10-07-2013, 10:19 AM   #16
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Though I have not has a chance to update my "new Roth status" since finding it, we do use the Planner. It seems it looks at tax deferred accounts as taxable, and forces them into the RMD at 70. Since these accounts are not taxable, I think the big picture will be more accurate.
Is that not how tax deferred accounts work -- traditional IRA, 401K?
Income is deferred until at least age 59 1/2 (in the general case), RMD's start in the year in which you turn 70 1/2, and all money taken as distributions is taxed as ordinary income. Or were you referring to a different kind of account?

Now if you said it appears that Quicken is treating Roth IRAs as though they are traditional IRAs, that would sound more plausible.

Our Roths total just over 2% of our portfolio which would be just over a year of withdrawals for us, so our Roths don't get a ton of attention from us, especially as far as Quicken is concerned.
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Old 10-07-2013, 10:27 AM   #17
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[QUOTE
Now if you said it appears that Quicken is treating Roth IRAs as though they are traditional IRAs, that would sound more plausible.
[/QUOTE]


You stated this much better than I did- but this is exactly the issue.

DD also uses Quicken and with the exception of 401, all their retirement is Roth, so to have this correctly entered is a big help.
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Old 11-10-2013, 08:29 AM   #18
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I'm using 2006 and i can choose Roth IRA.
If you dont want to go through the hassle of upgrading every 3 years and you only use the download for investment accounts. Here is what you do........
in Windows 7 .. open explorer and navigate to .. programdata>>>intuit>>>Quicken>>>inet>>>common. Now look for a folder marked "sunset" rename it moonset. See if you cant now download investment information.
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Old 11-10-2013, 03:29 PM   #19
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I'm using 2006 and i can choose Roth IRA.
If you dont want to go through the hassle of upgrading every 3 years and you only use the download for investment accounts. Here is what you do........
in Windows 7 .. open explorer and navigate to .. programdata>>>intuit>>>Quicken>>>inet>>>common. Now look for a folder marked "sunset" rename it moonset. See if you cant now download investment information.
Don't see a 'sunset' folder in the directory you listed, I'm using Quicken 2013. Maybe it's a 'feature' removed in later versions.
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Old 11-10-2013, 06:32 PM   #20
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Quicken 2013 would be a windows 7 compatible program, which means it could be in "Program File". It is also possible they have changed the way they do it. The way it has always worked is the information Quicken looks for is on your computer.
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