How Do I Record a Margin Interest Expense?
This transaction is handled slightly differently depending on whether or not a loan account has been set up in Quicken to handle your margin loan.
- A "margin loan" is money you borrow from a broker to pay for a security that you are buying (called "buying on margin"). You don't have to tell Quicken that you have a margin loan; if you buy a security and don't have enough cash for it in your account, Quicken displays a negative cash balance. Alternatively, you may want to set up a liability account for the loan.
1. Open the account you want to use.
2. Click Enter Transactions.
- If you've set up an Other liability (not a credit card) account for the margin loan
1. In the Enter Transaction list, select Cash Transferred into Account.
2. Fill in the Cash Transferred into Account dialog.
- If you haven't set up a Other liability (not a credit card) account for the margin loan
1. In the Enter Transaction list, select Margin Interest Expense.
2. Use this dialog to record interest that you pay your broker on a margin loan.
Recording a transaction in Quicken does not execute a real-world trade, transfer, or other transaction. Contact your broker to execute trades or transfers, and then manually record the transactions in Quicken—better yet, download them directly from your participating financial institution.