Margin loans in Quicken

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3 total messages Started by Mike N Wed, 25 Jun 2008 10:31

#11

Author: Mike N
Date: Wed, 25 Jun 2008 10:31

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Anybody using personal plus 2008, and tracking a margin loan ?
I'm just using a negative balance in the brokerage cash account as the loan, 
it seems to work OK (only a few transactions ) but is there a better way ?
Mike

Re: Margin loans in Quicken

#12

Author: R. C. White
Date: Wed, 25 Jun 2008 12:20

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Hi, Mike.

I've never used any but the US versions of Quicken, and I haven't had a 
margin loan in a while.  But, I handle it as you said - very simply.  Since 
there's no due date and no repayment schedule, there's no need to set up 
anything formal for the loan.  It is simply a negative balance in the 
brokerage cash account.  The loan will be repaid automatically (in my 
experience) whenever cash is deposited into the account, whether from my 
pocket or from dividends or interest received or, most likely, when 
securities are sold and the proceeds are collected.  No entries specifically 
recording the payoff are required; the cash balance will simply grow from a 
big minus to a small minus to a plus.

RC
-- 
R. C. White, CPA
San Marcos, TX
(Retired.  No longer licensed to practice public accounting.)
rc@grandecom.net
Microsoft Windows MVP
(Currently running Quicken 2008 Deluxe in Vista Ultimate x64 SP1)

"Mike N" <mikenot@bigpond.com> wrote in message 
news:s8p8k.14449$IK1.13055@news-server.bigpond.net.au...
> Anybody using personal plus 2008, and tracking a margin loan ?
> I'm just using a negative balance in the brokerage cash account as the 
> loan, it seems to work OK (only a few transactions ) but is there a better 
> way ?
> Mike

Re: Margin loans in Quicken

#13

Author: B
Date: Wed, 25 Jun 2008 20:24

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On 6/25/2008 5:31 AM, Mike N wrote:
> Anybody using personal plus 2008, and tracking a margin loan ?
> I'm just using a negative balance in the brokerage cash account as the 
> loan, it seems to work OK (only a few transactions ) but is there a 
> better way ?
> Mike

I do exactly what you're doing and, as RC said, there are no problems 
and no reason to do it any other way.  Even any interest which is added 
to the balance downloads correctly.  The balance is reflected properly 
in Net Worth.  It couldn't be simpler and works perfectly.

The interest category that you sue for the margin account can even be 
set so that it is handled properly for tax purposes.

Bernie

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