Retirement account cash fee handling

Hoping there is a very simple thing I'm missing, but:

What "Action" is used in a retirement investing account to handle the removal of cash by the financial institution?

There is no sale of any investment instrument, just a removal of cash.

Do I need to characterize the cash balance as an investment in a money-market fund and book sales of that fund with a 100% commission? Would prefer not to complicate things like that.

Thanks!

Best Answer

Answers

  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    That's what I do for fees.  My statement shows sales for them.  Like for $1.50 etc.  I enter a sale and put the amount in commission.  I'm sure that's wrong but I've always done it that way.  Keeps the number of shares right.  Well within a reasonable amount.
  • Liegelord
    Liegelord Member ✭✭
    @NotACPA

    Thanks! That's what I was looking for - right there under a different button!

    They are cash dividends being taken away by the brokerage firm. The "Action" menu where I enter most other transactions didn't offer the correct option for that. I will remember that the button has expanded options!
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