When selling a non IRA stock and depositing the money into checking what category do I use?
edited March 13 in Investing (Windows)
I'm selling a not IRA stock and depositing the money in a checking account, I have long term capital gains. What category do I use? What tax line assignment do I use?
There is no category or line item. Quicken will automatically determine whether you had a long or short-term capital gain or loss.If you open the Sell dialog, you'll see there's no place for a category. There is a place where you can specify the destination of the proceeds. This will result in a SellX (Sell and Transfer) transaction in your brokerage account and a deposit into your checking account.Quicken user since version 2 for DOS, now using QWin Premier Subscription (US) on Win10 Pro.0
Where was the stock originally recorded in Quicken?Typically you'd have established the security in an Investment Account with a "Bought" action. Then when you sell the stock with a "Sold" action Quicken automatically calculates the gain or loss and records that in the _RlzdGain Category for you. Moving the cash out of the Investment Account doesn't use any Category, its a Transfer which is entered in the "from" Account as [Name of Checking Account] and in the "to" Account as [Name of Investment Account].0
Thank You !!0
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