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Inheritance

Marvin2020

How do I record (categorize); Inherited cash deposited into a checking account, then moved to a brokerage (investment) account?

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Bob_L

For the deposit, I would use/create a category "other income-taxable" or "other income-non taxable" depending on your specific situation. Then create a transfer to the brokerage account.

Rocket J Squirrel

I simply created an income category "Inheritance" for this. Adding tax status to the category name might be confusing. A cash inheritance is generally not federally taxable to the beneficiary, but some states have inheritance taxes.

Marvin2020

Thank You

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