How can I handle RMD withdrawals

Bob31

I've been wrestling with this for years. I get an RMD withdrawal with Fed. and State withholding. The net amount (full amount minus withholding) is deposited in a savings account.

I need to reduce the value of the investment account by the amount of the full RMD. But if I record the savings account deposit as a transfer from the investment account, the investment account value is wrong because I haven't removed the withholding, and the share balances aren't changed (though I can set those manually). I can get the withholding amount from the investment company, but have never figured out a decent way enter it in the investment account.

I don't need any accounting -- I get the taxable amount and the withholding values from the 1099-R. I just want a way to have accurate values for my holdings in the Quicken investment account.

Jim_Harman

Please see this FAQ on RMDs

https://community.quicken.com/discussion/7072150/faq-best-way-to-handle-distributions-from-ira-also-rmd

And if you would like Quicken to make improvements in this area, please review, comment, and vote for this Idea

https://community.quicken.com/discussion/7864626/improve-handling-of-ira-distributions-including-qcds-and-roth-conversions