Missing data about IRA Federal Tax Withheld

Question

When I run a Tax Summary report I see some, but not all, of my tax categories.  For instance, I have a category for pension federal tax withheld linked to Quicken's predefined "1099-R: Pension federal tax withheld."  The Tax Summary report includes all entries correctly.

But I also have a category for IRA federal tax withheld linked to Quicken's predefined "1099-R: IRA federal tax withheld." The Tax Summary report does not show any entries for this category.  I think this is an oversight.  Or maybe the "oversight" is a deliberate error part of Quicken's philosophy to ignore properly recording transactions related to removing money from IRAs.

Jim_Harman · Answer

Fos step by step instructions on recording IRA distributions, please see this discussion

https://community.quicken.com/discussion/7945344/rmd-withdraw-from-ira-non-tax-to-trust-taxed-account

NotACPA · Answer

The tax withheld portion of an IRA w/d MUST be recorded in a taxable account.

SO, record the gross amount of the W/D as a transfer from the IRA to the taxable account and then split that txn to record the tax as a negative amount in the split  Click ADJUST to reduce the net deposit and save the txn.

bartdawson · Answer

Oh, I am  using Quicken Premier version R54.9 using Windows 11.