Adj category

John Sikora

I believe that Quick Mac has a category called Adj that does not appear as income or spending. Does this exist with the Windows Version? This is related to the issue of showing withdrawals from a 401k as income. I saw a workaround for the MAC but not sure if it works for Windows.

Tom Young

I take it that you've got Quicken setup to recognize a transfer out of the 401(k) as "income" for the Tax Reports by having these transfers associated with a 1099-R?  If that's the case then, no, you can't use that association on a regular Spending report, but there is a way to have that transfer show up as a form of "income" on those reports.  The transfer(s) will be a line item in the Income section of the reports as "From (Name of 401k Account)."

The way you do this is to have that 401k report INCLUDED as a Category in the Customize Report screen and EXCLUDED as an Account in the Customize Report screen, and turn on one of the show transfers options under the Advanced tab of the Customize Report screen.  If you have the Account included as a Category and an Account you'll be duplicating income - income inside the Account will show up and then the transfer will also show up.  Once you turn on show transfers you'll have to further customize the report to show only the transfers you want to see.  You'll need to play around with it a bit to get it right.

(You don't happen to be a John Sikora related to the Cleggs by any chance?)

Tom Young

It's not entirely clear what you're trying to achieve. 

In Windows Quicken the "classic" way of making an entry into an Account without affecting any Category or any other Account in the file is by way of a self-referential entry.  This is an entry where the "offset" to the entry to the Account posted in the Category box is the same Account in which you're making the entry.  So for example, you could reduce cash in an Account named "Schwab 401k" by using an XOut action and entering [Schwab 401k] in the Category box.  That reduction in cash would not show up in a Category or another Account.

Windows Quicken has other ways of "magically" making securities disappear or appear in Accounts, like the Remove and Add actions.

Why don't you sketch out exactly what you want to see happen in your file - are the "withdrawals" cash or securities, do you want the withdrawals to appear or not appear somewhere else in the file, and should this be reflected or not reflected in a report - and I'm pretty sure someone can give you step by step directions.

John Sikora

Sorry for the confusion. The problem I was trying to solve was to have withdrawals from a retirement account show up as income. Since they are transfers that doesn't happen. I saw a comment from someone else about the Mac Version that said you could achieve this by just putting in an entry to show income of x and then and "Adj" of -x. That doesn't work in the windows version to my knowledge. When you do a transfer from an IRA you can show the transfer as 1099 income, but if the transfer/withdrawal is composed of a transfer and a payment of taxes, only the transferred amount shows up as 1099. There doesn't seem to be a way to show the entire withdrawal and transfer as 1099 IRA income. I thought about setting up a dummy account, withdrawing to the dummy account and they paying the taxes out of that account and doing a transfer from the dummy account.

John Sikora

Thought of another way around the problem. Is there anyway to set 1099-R category as income for purposes of the income pie chart.

splasher

See this FAQ: https://community.quicken.com/discussion/7072150/faq-best-way-to-handle-distributions-from-ira

John Sikora

Yes, thanks. That confirms a few things. The only problem with the suggested solution is that the taxes paid would appear to come out of the receiving account. I didn’t want to show that. Solved it with a transfer of the taxes to another dummy account. Thanks, everyone for the help. Transfers out of a retirement account don’t show up as income on the income pie chart, but that’s another problem.

Tom Young

I take it that you've got Quicken setup to recognize a transfer out of the 401(k) as "income" for the Tax Reports by having these transfers associated with a 1099-R?  If that's the case then, no, you can't use that association on a regular Spending report, but there is a way to have that transfer show up as a form of "income" on those reports.  The transfer(s) will be a line item in the Income section of the reports as "From (Name of 401k Account)."

The way you do this is to have that 401k report INCLUDED as a Category in the Customize Report screen and EXCLUDED as an Account in the Customize Report screen, and turn on one of the show transfers options under the Advanced tab of the Customize Report screen.  If you have the Account included as a Category and an Account you'll be duplicating income - income inside the Account will show up and then the transfer will also show up.  Once you turn on show transfers you'll have to further customize the report to show only the transfers you want to see.  You'll need to play around with it a bit to get it right.

(You don't happen to be a John Sikora related to the Cleggs by any chance?)

John Sikora

Nope, no relationship that I'm aware of.