Re: IRA Portfolio

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In Reply to: Re: IRA Portfolio posted by Gary Trimmier on November 12, 2005 at 13:37:34:

: : : Mark,
: : : I use FM7 Pro to track the investments and performance of my IRA. I use my default cash account to fund all purchases, redemptions, distribution, etc. as well as my monthly account fees and distributions out of the IRA. These distributions include cash and taxes withheld. Although I can track the account fees easily with the account fee type distribution, I cannot figure a easy way to do the same with the cash and taxes I withdraw. Can you think of as way to do this?
: : : Thanks,
: : : Gary T.

: :
: : Hi Gary,

: : When you take money out of your cash account, whether it is for your own use, or to pay some taxes, just record this as a sell in the cash account.

: : Thanks,
: : Mark

: Mark,
: Thanks. That is the way I handle the transaction, however what I would like to be able to do is to separate the cash withdrawal and the taxes withheld from the rest of the transactions and total them as can be done with account fees.
: Gary T.

Hi Gary,

I see... Here's one idea you might consider... Create a second cash account that you only use for external deposits/withdrawals. When you withdraw money from your account, take it from the default cash account into this second cash account, and then out. You can do the same thing for deposits. That way, you can track the money flow in this "fake" cash account.

Thanks,
Mark
--
Mark Beiley
Fund Manager, portfolio management software for Windows 95/98/ME/NT/00/XP/2003

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