How do I enter a forfeiture of stock in a 401(k)?

markandclare's Avatar

markandclare

13 Jan, 2019 09:46 PM

My husband left his job and wasn't fully vested in the employer contributions. When we moved it to our IRA accounts the amounts he contributed were listed as a sale as were the amounts of the employer contributions that he was vested in. The remaining employer contributions were sold and listed as "forfeiture". How do I record this? There isn't a "Shares Removed" option. Listing it as a sale makes it look like there's still cash in the account.
Thanks,
Clare

  1. 1 Posted by dwg on 13 Jan, 2019 09:54 PM

    dwg's Avatar

    I'm a fellow user.

    I suspect a sale at a 0 cost might be currently the only way to record this.

  2. 2 Posted by markandclare on 02 Feb, 2019 08:20 PM

    markandclare's Avatar

    hanks. I tried that but then realized that I did need a cost to remove the value of the shares. Here's what I ended up doing:
    1. Sell transaction for the shares and dollars for each stock forfeited. That put the dollars into Cash.
    2. MiscExp transaction to subtract the total dollar amount of the forfeiture. That removed the value out of Cash.

    I attached the entries.
    Thanks,
    Clare

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