Required Minimum Distribution

marklandes Member ✭✭
Quicken should permit the payment from a retirment account to a non-retirment account where the payment to the account holder shows up as Taxable Retirment Income and permitting withholding for federal and state income tax. The payroll modular could be adopted to do this. Now the distribution from the retirment account must be "NOT CATAGORIZED" and the income in the non retirment account must be recognized as gross taxable income and withholding deducted from it.
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  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭

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    Quicken user since version 2 for DOS, now using QWin Premier Subscription (US) on Win10 Pro.

  • amc01
    amc01 Member

    I agree that Quicken for Mac should set up a special IRA RMD form. It should allow for the gross to show as taxable income. The payment of taxes should be allowed as some financial institutions pay the taxes directly to the taxing authorities. The net should show as transferable to a checking/savings/brokerage account or where ever else it may go

  • Quicken Anja
    Quicken Anja Moderator mod

    Hello @amc01,

    Thank you for visiting the Community.

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    -Quicken Anja