Redeeming a Bond

lou_garfinkle
lou_garfinkle Member ✭✭
in Investing (Mac)
My broker redeemed a bond in my IRA and put the proceeds into the cash part of the IRA. I downloaded the transaction and the category was listed as uncategorized. What would be a better category for this transaction? Just a Transfer?

Comments

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    The bond redemption should be recorded as a sale of a security, maybe at no gain or loss depending on whether you bought the bond at par.  If the "cash part of the IRA" is a different Account than the Account in which the redemption took place, then that would be accounted for as a transfer.
  • lou_garfinkle
    lou_garfinkle Member ✭✭
    the cash part is in the same account.
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    lou_garfinkle said:
    the cash part is in the same account.
    Then you shouldn't need a transfer, just the sale.
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