RMD - How to Enter in Quicken?

Options
Phil W
Phil W Member ✭✭
edited May 8 in Registers & Transactions (Windows)

how to enter a RMD withdrawal?

Best Answer

  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    Answer ✓
    Options

    See this FAQ.

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

Answers

  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    Answer ✓
    Options

    See this FAQ.

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

  • NotACPA
    NotACPA SuperUser ✭✭✭✭✭
    Options

    Assuming you've set the Tax Attributes of the retirement account … it's just a transfer from that account to a taxable account.

    IF you're having any taxes withheld from the w/d, those must be recorded in the taxable account or Q's tax reports won't see them.

    SO, record the transfer for the full amount into the taxable account and split that transaction to show the full amount transfer and a Negative amount for the taxes (multiple lines if State taxes are w/h also).

    Then, in the split window, click the Adjust button to reflect only the Net amount in the taxable account register.

    Q user since February, 1990. DOS Version 4
    Now running Quicken Windows Subscription, Business & Personal
    Retired "Certified Information Systems Auditor" & Bank Audit VP

Categories