What tax lines should be used in and out for Schwab Equity Account.

What in and out tax lines should be used for Schwab Equity Account as well as Schwab BCRED & BREIT Account.
Thanks!
Answers
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Hello @19randyowen59,
We can answer questions about Quicken and help troubleshoot issues, but we are not able to give tax advice. If you already know what tax form the information is reported on, then you may be able to use that to find the most applicable tax line in Quicken. For example, see the screenshot below. When you select a Tax line item, it provides a brief description of that line item.
I hope this helps!
Quicken Kristina
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For the Schwab Equity Account are you referring to a brokerage account or some other type of account? The tax line items for transfers into or out of an account in Quicken depend on what type of account it is - taxable, IRA, Roth IRA, etc.
BCRED and BREIT are securities, not accounts. When these securities make distributions, you will record them as Dividends, Interest, Capital Gains, etc. in the account where they are held. Quicken will take care of assigning them to the correct tax line items based on your entries. For private securities like these, sometimes the tax treatment of distributions is not known until you receive the 1099 or K-1 form at the end of the year.
Consult your tax advisor for information on how to report these distributions.
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Thanks Kristina and Jim. I appreciate your help!!
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Jim,
It is Schwab Brokerage account, taxable.
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Jim,
I also looked at last years 2023 year end statement and it is labeled composite 1099.
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Generally the Tax Schedule lines for taxable accounts should be blank, because there are no tax implications for transferring money into or out of a taxable account.
IRA accounts would be different.
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Okay got it. Thanks again for your help!!
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