I want to enter the transfer fee for transferring from Coinbase to Wallet
As stated in the question, I want to enter the transfer fee for transferring from Coinbase to Wallet in Quicken Business and Personal. The fee by Coinbase is taken in crypto therefore amount deducted in coinbase is greater than amount entered in the wallet but I want to make sure the correct cost base is maintained. Struggling a bit. Any guidance.
Answers
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The challenge is how to keep cost base correct and in which account
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Presumably you hold crypto in the account being transferred … so you'll need to sell sufficient crypto to cover the fee and then use MiscExp to remove the funds.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
Misc Exp is a cash entry. The expense of the transaction is a network gas fee paid in crypto so Misc Exp doesn't address the difference in crypto in Coinbase account and the hardware wallet.
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It appears Remove Share for the amount taken for network gas would increase teh cost basis which sound right to me as you now have less shares but the amount cash you spent stays the same. Then follow that with the transfer of shares for the lesser amount.
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