Entries for IRA RMD

Ranger

There should be a simple way to enter annual IRA RMD transactions. I do not take out one total cash amount for the distribution. I use a QCD, state and federal tax withholding , and transfer stock to a personal account. Am I missing something or is there a transaction to make it easier.

Jim_Harman

Unfortunately there is no easier way to do this. See this enhancement request and add your vote there by clicking on the little triangle under the number in the big blue box!
https://community.quicken.com/discussion/7864626/improve-handling-of-ira-distributions-qcds-and-roth-conversions#latest

This FAQ article describes how to enter a distribution from an IRA and get it recorded properly in Quicken
https://community.quicken.com/discussion/7072150/faq-best-way-to-handle-distributions-from-ira

Sherlock

The trick is to use a sale and transfer from the IRA to an entry in a split transaction in the taxable account that also has entries for the withholdings and donation.  The stock transfer is then entered as a buy to establish the correct cost basis.  Once you've created the template, you may memorize the split transaction (press Ctrl + M).

Jim_Harman

Unfortunately there is no easier way to do this. See this enhancement request and add your vote there by clicking on the little triangle under the number in the big blue box!
https://community.quicken.com/discussion/7864626/improve-handling-of-ira-distributions-qcds-and-roth-conversions#latest

This FAQ article describes how to enter a distribution from an IRA and get it recorded properly in Quicken
https://community.quicken.com/discussion/7072150/faq-best-way-to-handle-distributions-from-ira