How can I get transfers to show up as income in the Bank Summary YTD report

chazkov

When I set up a cash flow report transfers from an IRA to the bank show up as inflows which is ehat I want.

When looking at the Bank Summary report Income items are shown separate from distributions from an IRA account. IRA distributions show up at the bottom of the report as trasfers. Is there a way to get the transfers shown as an income item since they are taxable.

Jim_Harman

In the Banking Summary report, click on the gear at the top right to customize. On the Display tab, set the Organization to Cash flow basis. Incoming transfers will then be grouped with other inflows.

Note that transfers are not really income in an accounting sense, because they are like moving your money from one pocket to another.

NotACPA

You can also set the Tax Attributes of the txfr out of the IRA to show as income: TOOLS > Account List, Click EDIT next to the IRA name > Click Tax Schedule and select "1099-R Total IRA Taxable distrib".

Jim_Harman

@NotACPA changing the tax schedule for an IRA account affects the Tax reports but it does not appear to affect where the transfer is shown in the Banking summary report, which is what the OP asked.

NotACPA

@Jim_Harman, Curious that it doesn't impact that report.

Jim_Harman

Why would the Tax Line Item affect a report that is based on Categories and Accounts?