RMDs are not showing in the Budget

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System
System Member admin
edited October 2022 in Budgeting and Planning Tools (Windows)
This discussion was created from comments split from: Problem with this year's Required Minimum Distribution.

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  • Bob.
    Bob. Member ✭✭✭✭
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    FWIW guys, I cannot get RMD to work with the Budget (planning) tool. No matter what I tried, I want to the to show 1/12 of the RMD each month in the budget. Cannot achieve that.
  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
    edited August 2022
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    The first thing I would look into:  Budgets > Manage Budget Categories > Transfers In > check the box for FROM[the name of your IRA account].  This should place a line under Income in your Budget for transfers in from your IRA account and should allow you to enter 1/12 of your annual RMD in each month.  Of course, this assumes that you are entering your IRA distributions as transfers (into your checking account from your IRA account).
    Does this address the issue for you?
    If not, please describe how you are entering your IRA distributions transactions.

    (Quicken Classic Premier Subscription: R55.15 on Windows 11)

  • Boatnmaniac
    Boatnmaniac SuperUser ✭✭✭✭✭
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    Hi @Bob.  Did this work for you?

    (Quicken Classic Premier Subscription: R55.15 on Windows 11)

  • Bob.
    Bob. Member ✭✭✭✭
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    Unsure if it did or not :) Seems that the way Quicken shows the monthly budget on something spread over 12 instances is not as I would have expected. So it might be working as designed and might not.

    I would expect 1/12 to be added as income each month. Instead it shows as over by several months value and nothing added to income. It looks right in yearly view.

    Make any sense?

    I think it added it all to one month even though I spread it, then deducts the monthly amount each motnth and shows "over" each month until the end of year.

    And thanks for asking!
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