Tax Schedule Report problem

k4to@arrl

One set of my monthly IRA distributions is not showing up on the Tax Schedule year end report. The other two IRA distributions are coming through fine. I cannot find a page where accounts are coupled to tax schedules. So I can't troubleshoot. Any suggestions?

k4to@arrl

One set of my monthly IRA distributions is not showing up on the Tax schedule report. The other two IRA distribution accounts are coming through fine. I cannot find the setup page where tax schedules are coupled to account, so I can't troubleshoot. Any suggestions?

Rocket J Squirrel

Go to the Account Details of the misbehaving IRA and click on Tax Schedule. Make sure that Transfers Out is set to 1099-R:Total IRA taxable distrib.

k4to@arrl

I found that the proper form had been designated on all three of my IRAs but only the one refused to show up in either the Tax Summary or Tax Schedule reports.

UKR

k4to@arrl said:

I found that the proper form had been designated on all three of my IRAs but only the one refused to show up in either the Tax Summary or Tax Schedule reports.

Compare the misbehaving transaction's Split details (or Category selection) with one of the transactions that work. Any visible differences?
There were reports of messed up Split details caused by a recent software update ... patch pending.

k4to@arrl

I've looked until I'm cross-eyed and can see no difference in the set up between the ones that work and the one that doesn't. Thanks for the info.

J_Mike

For the account that is MIA - are the transfers to a taxable cash or brokerage account?

UKR

What are the dates on these transactions? Does one belong to a prior / different tax year than 2022?

k4to@arrl

It is all 2022 that I am dealing with.

k4to@arrl

They are taxable distributions from an IRA paid directly into my bank account.

k4to@arrl

Just to reiterate... The three IRA's are set up for transfers out to go to 1099R Gross Distributions. There are no split transactions. All three transfer from the mutual fund IRA Minimum monthly distribution to my checking account. Two of the three accounts show up properly on my Tax Schedule and Tax Summary reports. The third is missing. I am using Quicken Home, Business, and Rental Property version 2019. This version is properly updated and it is still supported. I expect to have to go to the newest version in a year or two. It looks to me like a bug, clear and simple.

Rocket J Squirrel

k4to@arrl said:

Just to reiterate... The three IRA's are set up for transfers out to go to 1099R Gross Distributions.

Did you really mean Gross? It should be Taxable, not Gross.

Unknown

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k4to@arrl

Ah - yes I do mean Gross. I have no withholding tax. So I fill out the taxable amount as 100% on the 1099 in Turbo Tax. Has worked well this way for years.

Rocket J Squirrel

Perhaps the tax line doesn't matter if you don't use Quicken's Tax Planner. But there is a functional difference between the 2 line items. Tax Planner uses Taxable only and doesn't even look at Gross.

k4to@arrl

I don't use Tax Planner, so I guess it's OK. thanks...