Recording Misc Expense in Ia Mutual Fund Investment Account

Terry Linthicum

I have had an issue for several years now that when my Fund Manager sells shares to make my RMDs for my IRA, they also sell shares to pay the withholding tax.  This has to be recorded as a Misc Expense and in Single Mutual Fund with no associated checking account, this can be done only by fiddling around and making Quicken believe that the fund really has a checking account and then switching it back.  It is a messy proposition at best.  Over a year ago, I spent hours with a very helpful Quicken Support specialist without a real solution.  One of the things he suggested was that I start a new Quicken Account with what at that time was Quicken 2018 for Windows to leave a lot of my old baggage behind.  This sounds great but there seems to be no way to migrate data to a new Account without backing up the old file and bringing everything (old baggage and all) over to the new Account - gaining nothing)

I have been a Quicken user since 1992 and have jumped through all the hoops, bought a new Quicken every time they forced me to and now I am subscribed to Eric Dunn's retirement fund.  If I could just convince someone to fix the bug that keeps you from recording a Misc Expense in a single mutual fund without a checking account, I think I might be able to weather the storm until Quicken (or I) folds our tent.

I would humbly request that unless you have had a problem with the EXACT situation I describe and have found a solution other than a Mickey Mouse band-aid or Quicken has made a fix to this bug that somehow has eluded me, please resist your urge to slay countless electrons by offering me a bunch of solicitous advice.

Jim_Harman

Avoiding solicitous advice and hoping you don't consider this a Mickey Mouse Band-Aid:

You haven't explained why this account has to be set up as a Single Mutual Fund account in Quicken.

Assuming there is a reason for this, record the sale for tax withholding as a SoldX with the proceeds going to your checking account or wherever your RMD is going. In the receiving account, edit the transation to add a Split, so it looks like this:

When you are done, it will look like a deposit of $0.00.

Jim_Harman

Avoiding solicitous advice and hoping you don't consider this a Mickey Mouse Band-Aid:

You haven't explained why this account has to be set up as a Single Mutual Fund account in Quicken.

Assuming there is a reason for this, record the sale for tax withholding as a SoldX with the proceeds going to your checking account or wherever your RMD is going. In the receiving account, edit the transation to add a Split, so it looks like this:

When you are done, it will look like a deposit of $0.00.