Properly Record Federal Tax Withheld From Mutual Fund IRA Distribution
I am selling some IRA mutual fund shares and having federal taxes withheld. Two transactions are downloaded each representing shares sold. I easily figure out how to get the net proceeds posted into my bank account, but I have no idea how to record the federal tax into my Tax: Fed category and thereby get it out of the Cash Balance for the mutual fund. Can someone help with a step-by-step process that begins with how to correctly edit (if necessary) the downloaded transaction that represents the shares sold for purposes of federal taxes? Thanks.
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