Tracking annuitized (income stream) IRA account

Unknown
Unknown Member
edited October 2018 in Investing (Windows)
In Quicken 2017 Home & Business (Version R15.13) I have been unable to set up a valid monthly transaction to transfer (over a period of time) funds from a fixed annuity (tracked several years) into my checking account. I can set up a Transfer reminder to handle either the gross amount (valid for deduction from my asset account) or for the net amount (valid for the income in my checking account). However, Quicken gives me no SPLIT capability to account for the amount of FITW being deducted every month in the transaction. Am I guilty of a bonehead mistake, or is Quicken really missing this basic functional ability?

Comments

  • splasher
    splasher SuperUser ✭✭✭✭
    edited October 2018
    This FAQ, https://getsatisfaction.com/quickencommunity/topics/faq-best-way-to-handle-distributions-from-ira, is about doing RMDs, but the concept is the same for you.

    You need to do the transfer reminder from the non-IRA side of the transfer.

    Hopefully, it will help you.
    -splasher  using Q since 1996 -  Subscription  -  Win10
    -also older versions as needed for testing
    -Questions? Check out the  Quicken Windows FAQ list
  • Unknown
    Unknown Member
    edited April 2018
    Thank you, splasher! I followed the instructions in the article and now have reminders set up for the transactions precisely as I needed. It always amazes me that I can come up with 10 different ways to search for solutions to these issues and STILL miss finding the answer I need. Grrrrrrrr ... 

    Thanks again!!
This discussion has been closed.