How do I enter a sell and transfer transaction in a 529 account?
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I have a 529 account in Quicken Mac 2018. I sold some shares to cover tuition costs. How do I show that? The account shows a sell (which is fine), but now I need to transfer the money to my checking account.
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Additional info. The 529 account is now showing a cash balance, and quicken has magically made new money.
For example:
Lets say that prior to the transaction,
529 balance = 50,000
Checking balance = 1,000
Transfer amount = 10,000
Should end up with:
529 balance = 40,000
Checking balance = 11,000
What I have is
529 balance = 50,000
520 portfolio shows
shares = 40,000
cash balance = 10,000
checking balance = 11,000
So quicken magically created and extra 10K for me. Wish it worked like that in the real world...
any advice?
I'm using quicken premier for mac 2018, build 5.3.2. Mac OS 10.13.10 -
The transactions in the 529 account should look something like this:
And then the checking account would look like this:
I'm not understanding how you're seeing what you're seeing. Can you post screenshots of the relevant transactions?Quicken Mac Subscription; Quicken Mac user since the early 90s0 -
Hi Anant...Anant Mithal said:@Rick, thanks for the info. I will grab the screenshots and post.
I'm not able to enter the payment/deposit entry. When I enter it, it gets changed to a sale or a buy transaction.
When you create the payment transaction, click the little up/down arrow icon in the Type column and choose Payment/Deposit at the bottom of the popup that appears.
The Category and Transfer columns don't show by default in an investment account, so you will want to turn those on using menu View > Columns. You can use any Category you want, but Transfer would make sense. Then enter the name of your checking account in Transfer column. It should look like this:
Quicken Mac Subscription; Quicken Mac user since the early 90s0
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