Some IRA Distributions Ignored in Tax Summary

wchoff .

Using Quicken 2017 Premier, when I produce a Tax Summary report it shows transfers out of some of my IRA accounts but not all of them. All of these IRA accounts are Tax Deferred=Yes and Transfers Out=1099-R Total IRA Taxable Distributions. All Accounts are selected, All Transfers selected. Does anyone have an idea why some of my accounts are being ignored in this report?

Sherlock

The Tax reports use the tax line item assigned to the entry in the included account registers.  The Transfers Out applies the specified tax line item to the entry in the destination account of WithdrawX action transactions which may be overridden by the Transfers In setting of the destination account or by manually setting the tax line item on the entry.

Note: You should not be including the tax deferred accounts in the Tax reports.

wchoff .

Thank you for your reply. I checked the Transfer settings and they are set properly. Of my 6 transfers from IRAs into my banking account, 4 show up in the Tax Summary and 2 do not, even though the settings in the missing accounts appear to be identical to those that do appear. Note: I disagree that these transfers should not show up in these reports because they are taxable transfers out of my IRAs. I do agree that income in these accounts is excluded.

wchoff .

It is interesting that these transfers show up correctly in the Tax Schedule but not the Tax Summary. Since I know about this flaw, I guess I won't worry about it. I'll receive my 1099s and handle it from there. I always like to use the Quicken reports to double check.

Rocket J Squirrel

wchoff . said:

It is interesting that these transfers show up correctly in the Tax Schedule but not the Tax Summary.

That is interesting. I see this, also. I just spent half an hour trying to determine why this happens. I failed.

Jim_Harman

@wchoff . Were some of these transfers entered into Quicken manually and some via Reminders? I have recently seen an issue where manually entered transactions are correct in a report but ones entered via Reminders are not, and I am wondering if this might be related.

Please look at the later part of this discussion
https://community.quicken.com/discussion/7907528/banking-transaction-report-shows-0-00-amount-for-some-investing-xout-transactions-edited

Bob_L

Also check to be sure the transaction was entered as a deposit in the receiving account, i.e. not the other way around as a transfer out from the IRA.

Sherlock

wchoff . said:

It is interesting that these transfers show up correctly in the Tax Schedule but not the Tax Summary. Since I know about this flaw, I guess I won't worry about it. I'll receive my 1099s and handle it from there. I always like to use the Quicken reports to double check.

Well, that is a twist.  I suspect your Quicken file is corrupt.  I suggest you try the Copy and Validate instructions as described in: https://www.quicken.com/support/advanced-data-file-troubleshooting-correct-problems-quicken-windows

Note: In Quicken 2017, use File > File Operations > Copy...

wchoff .

Thank you for having me look at the registers. I found the problem. I don't know what caused this but under the Action (=WithdrawX) on a two line register it shows 2020. Quicken thinks this was a 2020 transfer for tax reasons even though the transfer took place in Jan 2021. I have no idea how this was entered and it doesn't show unless you select the transaction of the register. Getting rid of the 2020 is tricky since the year does not appear on the Edit box. Use Edit>Cash Transferred In Account>delete 2020>Cash Transferred Out of Account>Enter. The two missing transfers now appear in the Tax Summary report. Thanks all for the help and I hope this thread helps others that have this problem.