Enter information about your IRA account
When you set up an IRA in Quicken Classic for Windows, you'll need to enter a name for the account and specify ownership and account type. These details help Quicken track contributions, balances, and tax treatment correctly based on the type of retirement account you select.
This topic explains how to complete the Tell us about this account screen when adding an IRA.
Name your account
In the Account Name field, enter a name that helps you identify this IRA account—such as My Roth IRA or John’s SEP IRA. You can use letters, numbers, spaces, and most special characters, except the following:
[ ] / : | ^
Avoid using characters that might cause errors or interfere with account display.
IRA-specific questions
If you select IRA during account setup, Quicken prompts you to provide additional information specific to retirement accounts.
Who owns this account?
Select either:
You — if the IRA is in your name
Your spouse — if the IRA is owned by your spouse
Ownership helps Quicken apply tax rules and retirement projections correctly.
What type of IRA is this?
Choose the specific type of IRA account you are setting up:
Traditional — A tax-deferred retirement account; contributions may be deductible depending on your income and coverage by a workplace plan.
Roth — Contributions are made after tax; qualified withdrawals are tax-free.
SEP-IRA — A simplified employee pension plan for self-employed individuals or small businesses.
SIMPLE IRA — A retirement plan for small businesses with fewer than 100 employees.
Education IRA — Now called a Coverdell ESA; used to save for qualified education expenses.
Keogh plan — A retirement plan for self-employed individuals, also known as an HR-10 plan.
Each type affects how contributions and withdrawals are taxed, and how the account appears in reports and projections.When you set up an IRA in Quicken Classic for Windows, you'll need to enter a name for the account and specify ownership and account type. These details help Quicken track contributions, balances, and tax treatment correctly based on the type of retirement account you select.
This topic explains how to complete the Tell us about this account screen when adding an IRA.
Name your account
In the Account Name field, enter a name that helps you identify this IRA account—such as My Roth IRA or John’s SEP IRA. You can use letters, numbers, spaces, and most special characters, except the following:
[ ] / : | ^
Avoid using characters that might cause errors or interfere with account display.
IRA-specific questions
If you select IRA during account setup, Quicken prompts you to provide additional information specific to retirement accounts.
Who owns this account?
Select either:
You — if the IRA is in your name
Your spouse — if the IRA is owned by your spouse
Ownership helps Quicken apply tax rules and retirement projections correctly.
What type of IRA is this?
Choose the specific type of IRA account you are setting up:
Traditional — A tax-deferred retirement account; contributions may be deductible depending on your income and coverage by a workplace plan.
Roth — Contributions are made after tax; qualified withdrawals are tax-free.
SEP-IRA — A simplified employee pension plan for self-employed individuals or small businesses.
SIMPLE IRA — A retirement plan for small businesses with fewer than 100 employees.
Education IRA — Now called a Coverdell ESA; used to save for qualified education expenses.
Keogh plan — A retirement plan for self-employed individuals, also known as an HR-10 plan.
Each type affects how contributions and withdrawals are taxed, and how the account appears in reports and projections.