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RMD record keeping

bartdawson

I want to see RMD data (income, Fed tax withholding) in standard Quicken reports. Seems there should be a ".RMD" file on my computer somewhere, but I can't find it. (1) How can I find it? (2) How do I input data in Quicken? (3) Will Fed W/H show up in standard Tax reports?

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NotACPA

An RMD is recorded as a transfer from your retirement account to a non-retirement account.

Edit, in the non-retirement account, the amount to reflect only the amount actually received (Net) as the deposit amount and then Split the transaction to show the Gross amount of the transfer as a positive number, and any deductions (such as Taxes withheld) as negative amounts.

dalec

How does it reflect on a report I see the transaction and have recorded it properly But how do you get it to show on a report

NotACPA

@dalec Which report are you interested in? And, MANY of Q's reports have the ability to show the contents of a split transaction.

NOTE, however, that this would need to be a banking type report, as the split didn't occur in the retirement account.

Ps56k2

You would also need to enter the Split with some Categories assigned for each line, ... just like you would expect to see on a Payroll stub - else the splits become lost.

Ps56k2

bartdawson said:

I want to see RMD data (income, Fed tax withholding) in standard Quicken reports. Seems there should be a ".RMD" file on my computer somewhere, but I can't find it. (1) How can I find it? (2) How do I input data in Quicken? (3) Will Fed W/H show up in standard Tax reports?

BTW - there is only 1 file for Quicken - your Quicken Data File - QDF -

Everything is stored in that single file.... all data, reports, settings, etc.

1 - your QDF file should be in your /Documents/Quicken/ folder.
There should also be a /BACKUP/ folder that will contain auto backups

2 - You can enter data into Quicken via downloads and One Step Update.
Also, you can enter transactions manually....
You setup Accounts to mimic what you have in the real world.

3 - When enterring data, you need to make sure that each transaction has an assigned "Category" which will in turn be reflected in any Reports.

Ps56k2

There are a few other RMD threads from years past -

here is one with suggested actions -

https://community.quicken.com/discussion/comment/19975706/#Comment_19975706