Use 'sell' or 'remove' when withdrawing money from 401(k)?

Patty T

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.

volvogirl

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.

John_in_NC

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 .