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Quicken Classic for Windows
Investing (Windows)
How do I track IRA charitable rollovers?
dpjenkins23
My IRA's are CD's recorded in securities accounts. I have directed that the required minimum distributions be paid to charities (aka IRA charitable rollover). It means I do not receive cash or taxable income on the $ dispersed thus, and the because there is no taxable income, there is no charitable deduction on this dispersement, either. How do I account for this in Q, which appears to never have heard of it. at least in its so-called help?
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Accepted answers
Sherlock
I suggest entering the distribution as an ordinary cash withdrawal using a
charitable rollover
category created for this purpose (like
Charity
but
not
associated with a tax-line item).
q_lurker
I'll refer you to this discussion:
https://community.quicken.com/discussion/7751849/how-to-charitable-distributions-from-my-ira
All comments
Sherlock
I suggest entering the distribution as an ordinary cash withdrawal using a
charitable rollover
category created for this purpose (like
Charity
but
not
associated with a tax-line item).
q_lurker
I'll refer you to this discussion:
https://community.quicken.com/discussion/7751849/how-to-charitable-distributions-from-my-ira
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