How to reverse erroneous Required Minimum Distribution

nedriv49

I need help on how to properly record a transaction in Quicken.
I am using a current QUICKEN subscription on Windows 10.

BACKGROUND: I have a rollover IRA. I took my 2021 RMD in monthly distributions. State and Federal taxes were withheld each month. The RMD amount net of taxes was transferred to my non-taxable investment account each month. For my 2022 RMD, I plan to continue the monthly distribution.

The transaction for the monthly distribution is recorded in Quicken as a deposit transaction into the non-taxable account with splits for tax withholding.

SITUATION: My RMD amount decreased for 2022. The new monthly amount including Fed and State withholding was entered into the custodian's system but apparently the prior year monthly RMD was not cancelled (very frustrating) and the result was that two distributions for different amounts were processed for January 2022. The erroneous (2021 prior year) amount has been reversed by the custodian and placed back into my IRA account.

QUESTIONS:
(1) How do I enter the reversal transaction into Quicken to include proper accounting of the State and Federal withholding (that is, to REDUCE the 1099-R tax amounts that resulted from the erroneous transaction)?

(2) How do I show the amount transferred back into the IRA as something other than a CONTRIBX type transaction (it's not a contribution)?

Thanks for your help.

EdV

NotACPA

Why can't you simply delete the erroneous entry and proceed from there?