nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

When selling a non IRA stock and depositing the money into checking what category do I use?

Marvin2020

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?

Find more posts tagged with

Comments

Rocket J Squirrel

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.

Image: https://us.v-cdn.net/6031128/uploads/editor/ej/xmhsloavzn1r.png

Tom Young

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].

Marvin2020

Thank You!!

Marvin2020

Thank You !!