Marvin2020 Member ✭✭
How do I record (categorize); Inherited cash deposited into a checking account, then moved to a brokerage (investment) account?


  • Bob_L
    Bob_L SuperUser ✭✭✭✭✭
    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 Premier Subscription, Windows 11 Home
  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    edited July 2022
    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, now using QWin Premier Subscription (US) on Win10 Pro.
  • Marvin2020
    Marvin2020 Member ✭✭
    Thank You
This discussion has been closed.