Not able to create a "Withdrawal" transaction in investment account

solarie

Perhaps someone from Quicken can answer this — there is a similar question but it was never fully answered. In the register for my IRA accounts, "Withdrawl" isn't available in the "Actions" column. "Withdrx" is available but I don't want that. Additionally "Withdrawl" is a valid action if you use the "Enter Transaction" modal. But that's a lot slower. This only occurs for IRAs/401Ks — taxable brockerage accounts allow "Withdrawl" to be selected in the "Actions" column.

Is this a bug or a feature?

Thanks.

Rocket J Squirrel

It's a limitation of the Action column. Many of us prefer to go to the Enter Transactions dialogs by habit because they offer a complete set of transactions, while the Action column does not.

Tom Young

""Withdrx" is available but I don't want that."

I expect that the thought behind this is that a Withdrawal always has to have a taxable Account to transfer into, even if it's a "cash in hand" Account, in order to capture the "taxable income" aspect.

Of course there are situations where a withdrawal isn't a "taxable income" event, like a withdrawal of the over-contribution and any earnings, but those are fairly rare and would have to be finessed in Quicken, probably by a self-referential ("one-sided") entry, still a Withdrx action.

What's the situation where you thing a pure withdrawal is what you need?

Rocket J Squirrel

[munged reply deleted due to Vanilla weirdness]

Rocket J Squirrel

What's the situation where you think a pure withdrawal is what you need?

A direct withdrawal from an IRA could be achieved by giving a charity the routing & account numbers of checks you write from the IRA, performing a QCD without having to write and mail a paper check.

solarie

It's complicated but it comes down to how I track what our financial advisor is doing but… one use case is "expenses" (for the advisor). I use "Withdrawal" but I can only select from the Edit modal. And, in general, it doesn't make sense to me why I can't get to it from the dropdown.