How do I setup a new paycheck group?

Nelson Spitnale

Using Quicken Deluxe 2019 R-17 .  We have several sources of income, i.e. Pensions, Social Security and IRA distributions.   I've set up each of the deposits just like a pay check and Quicken properly groups the Pension and Social Security transactions in reports by somehow assigning a number, I.e. Pension Income, withholding, etc from a single source all are identified in reports by the number [1].  Spouse Pension Income, withholding, etc.are all identified in reports by a number [2].  However, my wife and my IRA distributions, withholding are not separated.  How do I associate the Gross Amount and the withholding amount for my deposit so they are separated in reports from my wife's deposit?

Unknown

Use of "tags"! You can name one tag your first name, the other tag your wife's. Then reports can be derived on either tag, or both.

Nelson Spitnale

In the Tax Schedule report, the tag doesn't help.  Both IRA amounts are still shown together under the Total Gross IRA Distribution caption.

Unknown

But cant you customize to only show one or the other tags?

Nelson Spitnale

Probably could, but it wouldn’t all be in the Tax Schedule report. I did what I’m asking years ago, I believe it was done by adding a colon followed by an identifier, so I’ll experiment and see if I can figure it out.

Sherlock

The gross amount may be distinguished by the IRA account source.   The federal withholding for the IRA distribution may be distinguished by applying the appropriate tax line:  1099-R:IRA federal tax withheld versus 1099-R:IRA federal tax withheld, spouse

Nelson Spitnale

Both are being deposited into the same account, so that account becomes the source. Why not add a tax line for 1099-R Gross IRA income, spouse, just like you have it for tax withheld?

Sherlock

Both are being deposited into the same account, so that account becomes the source. Why not add a tax line for 1099-R Gross IRA income, spouse, just like you have it for tax withheld?

Both are being deposited into the same account, so that account becomes the source.

The IRA accounts should be the source.  (Use the Category column on the Tax Schedule report.  If you're not transferring the gross amount from the IRA accounts in your Quicken data file, then you can distinguish the gross deposit by using distinct payee names you use which maps to the Description column in the report.)

Why not add a tax line for 1099-R Gross IRA income, spouse, just like you have it for tax withheld?

We can not modify the software.

Nelson Spitnale

Both are being deposited into the same account, so that account becomes the source. Why not add a tax line for 1099-R Gross IRA income, spouse, just like you have it for tax withheld?

The tax schedule report is by tax line, not source, not category. Within the tax line all deposits are in a single list by date , even though there are two different IRA sources and two different categories.

Sherlock

Both are being deposited into the same account, so that account becomes the source. Why not add a tax line for 1099-R Gross IRA income, spouse, just like you have it for tax withheld?

The Tax Schedule report is grouped by tax line, but we can view the transactions and we can customize the filters so we can distinguish between the source IRA accounts. Personally, I prefer to use the Tax Summary report.

Sherlock

Both are being deposited into the same account, so that account becomes the source. Why not add a tax line for 1099-R Gross IRA income, spouse, just like you have it for tax withheld?

If you want a kludgy work around, set the Transfers Out for your IRA accounts or your spouse's IRA accounts to an available but otherwise unused tax line (for example, if you don't have any SIMPLE retirement accounts you could use1099-RSIMPLE total gross distribution)

Nelson Spitnale

Both are being deposited into the same account, so that account becomes the source. Why not add a tax line for 1099-R Gross IRA income, spouse, just like you have it for tax withheld?

The TAX summary report is, in fact, a much better report and meets my needs.

thanks