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How to deal with RMD issues

Revjuls

Revjuls Member ✭

May 26 edited May 28 in Investing (Windows)

How do I account for Required Minimum Withdrawal that is transferred to a Joint Investment account and then into a joint bank checking account?

0

Best Answer

q_lurker SuperUser ✭✭✭✭✭

May 26 Accepted Answer

Start here:
https://community.quicken.com/discussion/7072150/faq-best-way-to-handle-distributions-from-ira-also-rmd#latest
In the first receiving Joint Investment Account, you may need to have two transactions - one as receiving the Gross distribution, and the second as paying the withheld taxes (two if state and federal withheld).

0

Answers

volvogirl SuperUser ✭✭✭✭

May 26

ps....it's called the RMD - required minimum Distribution

0
q_lurker SuperUser ✭✭✭✭✭

May 26 Accepted Answer

Start here:
https://community.quicken.com/discussion/7072150/faq-best-way-to-handle-distributions-from-ira-also-rmd#latest
In the first receiving Joint Investment Account, you may need to have two transactions - one as receiving the Gross distribution, and the second as paying the withheld taxes (two if state and federal withheld).

0

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/* * These styles apply ONLY to the header and footer assets. */ * { padding: 0; margin: 0; box-sizing: border-box; } .footer { background: #f5f5f6; color: #555a62; font-size: 14px; line-height: 1.5; padding: 18px 0; } .footer-wrap { padding-left: 18px; padding-right: 18px; max-width: 1236px; margin: 0 auto; } .footer a { color: #0291db; } .footer a:hover { color: #0276b3; } .footer-row { display: flex; flex-wrap: wrap; justify-content: space-between; align-items: center; margin: -3px; } .footer-col { padding: 0 3px; } .footer-col-copyRight { justify-content: flex-start; } .footer-col-logo { justify-content: flex-end; } .footer-col-copyRight, .footer-col-logo { flex: 1; display: flex; } .logo { width: 120px; height: 28px; opacity: 0.6; } @media screen and (max-width: 768px) { .footer-row { display: block; } .footer-col { width: 100%; text-align: center; margin: 6px 0; } .footer-col:first-child { margin-top: 0; } .footer-col:last-child { margin-bottom: 0; } .footer-col-copyRight, .footer-col-logo { justify-content: center; } .logo { margin: 0 auto; } } /*# sourceMappingURL=styles.css.map */

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