Quicken for Mac. I just started withdrawing money from my 401(k). The transactions from fidelity come over as 'sell' which adds the proceeds to the balance column. Should I be using 'remove' to record the sale of these investments?
Thanks.
Sell is right. Then you need a cash withdraw to transfer the cash to your checking account or wherever. Or did they send you a check? You might also need another transaction in your checking account to account for any tax withholding taken out.
While both would remove (or decrease) the holdings, Sell would be what most users would use as it accurately converts the sale to $. You would then create a transfer transaction to move said funds to whatever account you moved the money to.
If you had any events such as paying taxes on the $ before transferring out, you could make the transfer transaction a Split transaction to record such activities .
