The tax schedule or tax summary report is not showing all transfers from IRA.

I've made 2 transfers from an IRA account one to a bank account and one to an investment account that is taxable. Quicken is only picking up the transfer that goes to the bank account. Both transactions should be shown as taxable income. Any ideas on this?
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Best Answers

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Answer ✓
    IRA transfers will only be recorded as taxable if you enter the transfer in the taxable account.
    QWin Premier subscription
  • Bob_L
    Bob_L SuperUser ✭✭✭✭✭
    Answer ✓
    What Jim is saying is that you need to enter the transaction in the brokerage account as a deposit,  not by entering it in the IRA.
    Quicken Premier Subscription, Windows 11 Home
  • DayFisher
    DayFisher Member ✭✭
    Answer ✓
    Thank you, that did work. Strange thing is the transfer does work if it goes to a back account instead of a brokerage.

Answers

  • Jim_Harman
    Jim_Harman SuperUser ✭✭✭✭✭
    Answer ✓
    IRA transfers will only be recorded as taxable if you enter the transfer in the taxable account.
    QWin Premier subscription
  • DayFisher
    DayFisher Member ✭✭
    It is recorded both in the IRA as cash transferred out and the taxable account as cash transferred in.
  • Bob_L
    Bob_L SuperUser ✭✭✭✭✭
    Answer ✓
    What Jim is saying is that you need to enter the transaction in the brokerage account as a deposit,  not by entering it in the IRA.
    Quicken Premier Subscription, Windows 11 Home
  • DayFisher
    DayFisher Member ✭✭
    Answer ✓
    Thank you, that did work. Strange thing is the transfer does work if it goes to a back account instead of a brokerage.
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