How to forgive a debt in Quicken?

Andrew S

Hello,
My father has loaned me some money on various occasions over the last year or so for different things and I have setup a debt account that shows up under the "Property & Debt" heading. Most of it was through use of his credit card, so when I used it, I entered the transaction into this debt account. Sometimes he transferred me money through e-transfer, and that was recorded as a transfer in my checking account to the debt account.
As a birthday present, he has forgiven the debt. How do I go about clearing the debt without screwing up the various transfers and category entries? I have attached a picture of what the register looks like at present.
Any help is greatly appreciated. Thanks!
Regards,
Andrew S.

Tom Young

Make one single entry writing off the entire balance.  If this was a "real" loan you'd write it off against some income category like "Loan Forgiveness", and recognize it in your income tax return.  This was really a gift in the form of informal loan forgiveness so you might write it off against a "Gifts Received" category, "Misc Income" or anything else that you want to call it.  You can also write it off using the Account name itself [Owed to Dad] and the balance in the Account would zero out without showing up in any Category on any sort of Spending Report, or anywhere else.

Tom Young

Make one single entry writing off the entire balance.  If this was a "real" loan you'd write it off against some income category like "Loan Forgiveness", and recognize it in your income tax return.  This was really a gift in the form of informal loan forgiveness so you might write it off against a "Gifts Received" category, "Misc Income" or anything else that you want to call it.  You can also write it off using the Account name itself [Owed to Dad] and the balance in the Account would zero out without showing up in any Category on any sort of Spending Report, or anywhere else.