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I want to add a Tag (1099-R) on a distrabution from an IRA Account to a Personal Account.

MikeBritt
MikeBritt Member ✭✭
edited December 2018 in Investing (Windows)

When I transfer an amount from an IRA Account to a non-IRA I
can’t add a TAG to 1099-R.

I have tried to add a TAG by entering [My IRA]/Tag 1099-R

I’m using Quicken 2016 Premier on a Windows 10 PC.

Comments

  • J_Mike
    J_Mike SuperUser ✭✭✭✭✭
    edited December 2018
    I am assuming that your objective here is to get QWin to properly report your distribution in the tax reports.
    See this link for details of the setup and transaction enty;
    https://getsatisfaction.com/quickencommunity/topics/faq-best-way-to-handle-distributions-from-ira

    Use of Tags is not required to achieve the tax reporting objective.

    Post back if I have misinterpreted your query or if you have additional questions.
    QWin & QMac (Deluxe) Subscription
    Quicken user since 1991

  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited December 2018

    The method to add a tag to a transfer is [account name]/tagname.

    I am curious, though, why you are trying to use a tag for a tax line item. Tax line items can be automatically associated with a category or a transfer without the use of a tag.

    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    edited October 2018
    Why not just set the tax attribute for transfers out in the IRA itself?
    TOOLS, Account List, click EDIT across from the IRA account name, click the Tax Schedule button at the bottom of the dialog.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • MikeBritt
    MikeBritt Member ✭✭
    edited December 2018
    This is what I have.  But it does not show up on the 'Tax Schedule' Report.
  • MikeBritt
    MikeBritt Member ✭✭
    edited January 2017
    mshiggins said:

    The method to add a tag to a transfer is [account name]/tagname.

    I am curious, though, why you are trying to use a tag for a tax line item. Tax line items can be automatically associated with a category or a transfer without the use of a tag.

    I tried this, But it does not show up on the 'Tax Schedule' Report.
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited January 2017
    mshiggins said:

    The method to add a tag to a transfer is [account name]/tagname.

    I am curious, though, why you are trying to use a tag for a tax line item. Tax line items can be automatically associated with a category or a transfer without the use of a tag.

    What "this" did you try? Using a tag on a transfer? Using a tax line item on a transfer? Something else?
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited December 2017
    If you read through the discussion via the link JM posted, you'll likely find the cause for your issue to be you are transferring the distribution from your IRA to brokerage account. In order for the tax schedule report to pick it up, the transfer needs to be from your IRA to a banking account. 
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • MikeBritt
    MikeBritt Member ✭✭
    edited January 2017
    JM said:

    I am assuming that your objective here is to get QWin to properly report your distribution in the tax reports.
    See this link for details of the setup and transaction enty;
    https://getsatisfaction.com/quickencommunity/topics/faq-best-way-to-handle-distributions-from-ira

    Use of Tags is not required to achieve the tax reporting objective.

    Post back if I have misinterpreted your query or if you have additional questions.

    This is what I have.  But it does not show up on the 'Tax Schedule' Report.
  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited January 2017
    mshiggins said:

    If you read through the discussion via the link JM posted, you'll likely find the cause for your issue to be you are transferring the distribution from your IRA to brokerage account. In order for the tax schedule report to pick it up, the transfer needs to be from your IRA to a banking account. 

    I'm just starting to put my parents finances in Quicken as they are aging so this thread is good for me.  Unfortunate that Quicken doesn't put transfers from the IRA to any non-retirement account on the report.  Just because it goes to a brokerage account and not a banking account shouldn't matter but thanks for pointing this out.
  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    edited November 2018
    By default tax deferred accounts are not included in the Tax Schedule report. Try going to Customize and selecting the IRA account. That works for me QW Premier 2017. When transferring out of an IRA, it appears on the report in a section titled 1099-R 

    Note, however that if you include these accounts in the report, their dividends and capital gains will be included also, which you probably don't want. I guess you can't have it both ways.
    QWin Premier subscription
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited January 2017
    mshiggins said:

    If you read through the discussion via the link JM posted, you'll likely find the cause for your issue to be you are transferring the distribution from your IRA to brokerage account. In order for the tax schedule report to pick it up, the transfer needs to be from your IRA to a banking account. 

    It's just one of the quirks that has been around for years.
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited January 2017
    mshiggins said:

    If you read through the discussion via the link JM posted, you'll likely find the cause for your issue to be you are transferring the distribution from your IRA to brokerage account. In order for the tax schedule report to pick it up, the transfer needs to be from your IRA to a banking account. 

    Actually, re-reading the referenced post, I see you can work around the transfer from IRA to brokerage by using the right transaction type:

    It is important to use the Deposit transaction when transferring to a taxable brokerage acct. QWin does not pick up the taxable event [the distribution] if one uses a 'Cash transferred out' transaction for some reason [bug?].
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • K.O. (Win-Premier)
    K.O. (Win-Premier) SuperUser ✭✭✭✭✭
    edited January 2017
    mshiggins said:

    If you read through the discussion via the link JM posted, you'll likely find the cause for your issue to be you are transferring the distribution from your IRA to brokerage account. In order for the tax schedule report to pick it up, the transfer needs to be from your IRA to a banking account. 

    I guess its easier to have you reply to anyone asking this question than to fix the software :)
  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited January 2017
    mshiggins said:

    If you read through the discussion via the link JM posted, you'll likely find the cause for your issue to be you are transferring the distribution from your IRA to brokerage account. In order for the tax schedule report to pick it up, the transfer needs to be from your IRA to a banking account. 

    Well, my bug fix priorities and Quicken Inc's bug fix priorities are somewhat misaligned ;-).
    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the  Quicken Windows FAQ list
  • J_Mike
    J_Mike SuperUser ✭✭✭✭✭
    edited January 2017

    By default tax deferred accounts are not included in the Tax Schedule report. Try going to Customize and selecting the IRA account. That works for me QW Premier 2017. When transferring out of an IRA, it appears on the report in a section titled 1099-R 

    Note, however that if you include these accounts in the report, their dividends and capital gains will be included also, which you probably don't want. I guess you can't have it both ways.

    This is not a desireable solution - for the very reasons that you point out.

    Have been using the procedure outlined in the referenced post for over 15 yrs, through numerous versions of QWin, and it works.
    QWin & QMac (Deluxe) Subscription
    Quicken user since 1991

  • J_Mike
    J_Mike SuperUser ✭✭✭✭✭
    edited October 2018
    @MikeBritt

    Do you have it wirking yet?
    If not, what type of account are you transferring the distribution too?
    QWin & QMac (Deluxe) Subscription
    Quicken user since 1991

  • MikeBritt
    MikeBritt Member ✭✭
    edited December 2018
    Yes.  I have a 'Closing' Account.  I transferred from the IRA Account with the TSAG to Closing.  Then I transferred from Closing to my non-IRA Account.  That worked.

    Thank you and all of you who tried to help.
This discussion has been closed.