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Old 05-10-2016, 12:54 PM
sugarloafmolly sugarloafmolly is offline
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complicated stock donation question

We received a stock donation in Dec of 2015. It was a security transfer that was immediately sold - from our mutual fund acct to our cash acct with the same broker.
Then in January 2016, we transferred that money to our checking acct (different institution) via a check written from the brokerage acct.

My problem is that I seem to be showing this donation as income in 2015 and also 2016 in my QB p&l.
What did I do incorrectly?

Last edited by sugarloafmolly; 05-10-2016 at 12:58 PM.
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Old 05-10-2016, 06:31 PM
Lorin Browning Lorin Browning is offline
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The January transaction should have been recorded as an entry between two balance sheet accounts. No income account is involved. Write a check from the brokerage account payable to your company and deposit in the checking account.

General Ledger will show:
  • Debit checking account
  • Credit brokerage account
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