Inheritance

Marvin2020
Quicken Windows Subscription Member ✭✭
How do I record (categorize); Inherited cash deposited into a checking account, then moved to a brokerage (investment) account?
0
Comments
-
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.
Quicken Business & Personal Subscription, Windows 11 Pro
2 -
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.
Quicken user since version 2 for DOS, as of 2025 using QWin Premier (US) on Win10 Pro & Win11 Pro on 2 PCs.
2 -
Thank You0
This discussion has been closed.