Net Worth - Account Balances vs Retirement Accounts

Ps56k2

Was just looking at the - Net Worth - Account Balances - report and the breakout of the accounts.
The report does a breakout for ....
- Banking
- Cash
- Credit Cards

- Investment

This lines up with the subtle line breaks on the Account List on the left side of the Quicken screen.
However - the Retirement accounts are NOT broken out, and just lumped into the Investment area.

I feel they should be broken out separately, like the other groupings, as Retirement accounts are not "liquid" Investments.

urbanian

Absolutely. I think I grumped about this somewhere before. Maybe it was as a feature request.

And more of a problem, distributions from a retirement account, say from an IRA to checking, is just treated as a transfer. It really ought to be income, and I haven't figured out how to make it show up as such.

Rocket J Squirrel

urbanian said:

And more of a problem, distributions from a retirement account, say from an IRA to checking, is just treated as a transfer. It really ought to be income, and I haven't figured out how to make it show up as such.

https://community.quicken.com/discussion/comment/17093491/#Comment_17093491 

GeoffG

urbanian said:

And more of a problem, distributions from a retirement account, say from an IRA to checking, is just treated as a transfer. It really ought to be income, and I haven't figured out how to make it show up as such.

How can money moved from an IRA be Income? It is a transfer of funds from one account to another. You already earned the income when you placed excess funds into an IRA account. Interest/Dividends is income, not transferrering from an IRA to checking.

Rocket J Squirrel

GeoffG said:

How can money moved from an IRA be Income?

It is usually taxable income.

GeoffG

Hmm, brain spasm. The IRA is deferred income non-taxed. I was thinking retirement accounts in general.