Transfer cash from IRA account to Personal Checking Acct.

No clear instructions as to entering correct actions for withdrawing cash balance for IRA account and those funds are transferred to personal bank checking account.

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  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @Tom Anderson,

    You can set-up the IRA account to classify withdrawals as taxable as follows:

    1) Open the account in Quicken;
    2) Click on the Gear Icon in the upper right just above "Cash Balance":
    3) Click on "Edit Account Details;
    4) At the bottom of the pop-up - select "Tax Schedule";
    5) For the "Transfers out: select "1099-R:Total IRA taxable distrib.
    6) Click "Okay"

    Let me know if you have any follow-up questions.

    Frankx

                      Quicken H&B-Subscription Ver. 34.24 - Windows 10-Home Version
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  • Tom Anderson
    Tom Anderson Member ✭✭
    I do not see the window layout you describe (2) - No Cash Balance or Gear Icon as such - (3) no Edit Account Details. I may not have the right window open.... Are you addressing the Mac version? The account is currently set up as a Traditional IRA.
  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Hi @Tom Anderson,

    Sorry about that - I didn't see anything in the question re: Mac - but i see it now in the tag.  Can you "translate" the instructions into "Mac-ease"?  If not, I expect one of our colleagues can point you in the right direction...

                      Quicken H&B-Subscription Ver. 34.24 - Windows 10-Home Version
                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

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