Split Transactions on Brokerage Account
Is there a way to do a 'split' transaction on a brokerage account. I am trying to account for the Fed and State taxes on my IRA account, but the dialogue will not pop-up a split category. All I can do on brokerage is record a transfer. I thought MD was as close to dual accounting as you could get! One other idea I had was to go into my checking account and do a zero dollar transaction and use a split. Is this what I have to do?
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1 Posted by David Greene on 09 Dec, 2024 10:25 PM
I solved this. The only way you can make a 'journal entry' involving a brokerage account is to do a zero dollar transaction in a bank account. So mark this solved.
2 Posted by dwg on 09 Dec, 2024 10:43 PM
You can enter a normal split type of transaction in a brokerage account but only when using the Bank register.
In the Investment register split transactions are already being used with buy/sell type transactions to manage the security sub account.
3 Posted by David L Greene on 09 Dec, 2024 10:55 PM
Only assets pop up in the dialogue box, no splits, no expense accounts like estimated fed taxes, estimated state taxes, etc. etc.
System closed this discussion on 10 Mar, 2025 11:00 PM.