How do I record a rebate on investment fees?

I'm using Quicken 2020 and I just received a rebate on the investment fee for my IRA. I've been recording these investment fees as a Miscellaneous Expense with a category of Investment Exp. I think I want to record this the same way but with a negative amount so my tax reports will show the proper amount of investment fees, but Quicken changes the negative amount I enter to a positive expense.

Is there some other way I should be recording this? If this has already been asked and answered, please point me to that post. I couldn't find one when I searched.
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  • kennethp
    kennethp Member ✭✭
    That worked, thanks! I wasn't thinking of the rebate as income, so it wasn't obvious to me to enter it that way.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Yeah, Quicken is inconsistent in this - in some places it lets you enter a rebate as a negative expense and elsewhere it tries to "correct" the negative entry.
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  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    kennethp said:
    I'm using Quicken 2020 and I just received a rebate on the investment fee for my IRA. I've been recording these investment fees as a Miscellaneous Expense with a category of Investment Exp. I think I want to record this the same way but with a negative amount so my tax reports will show the proper amount of investment fees, but Quicken changes the negative amount I enter to a positive expense.

    Is there some other way I should be recording this? If this has already been asked and answered, please point me to that post. I couldn't find one when I searched.
    There are also cases where Quicken will treat an entry made directly in the transaction list different from an entry made using the Enter Transaction button.  One way it will force the sign one way (positive).  The other process will allow a negative sign.  Haven't tried it right now for your case, and Jim's method give you a valid alternative.  

    I have used the Enter Transaction button, entered a 'negative' Miscellaneous Income value, and the transaction entry gets created as a positive MiscExp entry.  I think if you use an inline entry and go negative for a MiscInc, it 'corrects' to a positive MiscInc transaction.  Go figure.  
  • kennethp
    kennethp Member ✭✭
    > @q_lurker said:
    > (Quote)
    > I have used the Enter Transaction button, entered a 'negative' Miscellaneous Income value, and the transaction entry gets created as a positive MiscExp entry.  I think if you use an inline entry and go negative for a MiscInc, it 'corrects' to a positive MiscInc transaction.  Go figure.  

    If so, that's kinda what I was thinking by entering a negative MiscExp in Enter Transaction and it would have created a positive MiscInc, but it doesn't (for me, anyway). As you said, go figure. Oh well. As long as I have a way that works, I'm fine.

    And a big thanks to this community for being so responsive! I never expected to get answers within a day!
  • harry50hn
    harry50hn Member
    Like Kennethp, I have received a Fee Rebate three types of mutual funds and do not know how to record it. Does it become cash in the account or additional shares at a unit price per share rate? All I see from the report is the name of the investment, the amount of the rebate, the number of units and the price per unit, i.e. 2.42541 units at $11.0703 = $26.85. Is there an explanation on what this means, what the result represents, and how to make the entry in Quicken?
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    @harry50hn
    From your info, I would say your 'rebate' is being used to buy shares.

    As such, I would use two entries:
    • MiscInc transaction for the dollar amount = $26.85, category same as used for the original fee paid.  Use the memo field to identify as rebate of fees paid previously.
    • Buy 2.42541 shares for the total of $26.85 
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