How to Set Up a Brokerage Account in Quicken 2012

By Stephen L. Nelson

Setting up a brokerage account in Quicken 2012 is similar to setting up a regular tax-deferred account. During the investment account setup process, when Quicken asks you what kind of account you’re setting up, specify that you’re setting up a standard brokerage account.

Record your initial share balances in Quicken 2012

Just as you need to describe your starting share balances when you set up a tax-deferred investment account, you need to describe your starting share balances when you set up a standard brokerage investment account. In other words, if you own three stocks in your brokerage account — IBM, GE, and Boeing — you need to describe how much you paid and when you purchased your IBM, GE, and Boeing shares.

How to work with brokerage accounts in Quicken 2012

Brokerage accounts work like tax-deferred accounts, except for a handful of minor differences. Essentially, only three general differences exist between tax-deferred investment accounts and brokerage investment accounts:

  • Brokerage accounts typically use more extensive security lists (whereas tax-deferred investment accounts don’t).

  • Brokerage accounts have cash accounts (whereas tax-deferred investments usually don’t).

  • Brokerage accounts let you record a handful of goofy transactions that tax-deferred investment accounts don’t (because they don’t make sense in the context of conventional tax-deferred investments).