Tax planner - incorrect Taxable IRA Distribution after deleting future transfer

Mikmartn

Hi all,

I successfully created a future transfer ($100k) from an IRA account to plan for a Roth conversion later this year. Unfortunately, after I deleted the future transfer (Bills, Income, Transfers) the Tax Planner still shows the 100,000 amount. How do I correct this? I feel like it's a bug.

Mike

Boatnmaniac

Have you tried closing Quicken and then reopening it? Sometimes that will cause a planning tool glitch to refresh and correct itself.

Jim_Harman

Or change the Data source to User Entered and back. That sometimes forces an update.

Please let us know what you find.

Mikmartn

https://community.quicken.com/discussion/comment/20469517#Comment_20469517

Thanks Boatnmaniac, good suggestion. No luck though. -Mike

Mikmartn

https://community.quicken.com/discussion/comment/20469519#Comment_20469519

Thanks Jim, for the good suggestion. I tried changing the data source to user and then back. No change. -Mike

Jim_Harman

Check both sides of the deleted transfer to make sure it is really gone.

Change the Tax Year in the Tax planner to 2024 and back

Go to an investing account and hit Ctrl-Z to recalculate the investing transactions

Do a File > Validate and Repair

Hopefully one of those will fix it; please let us know what happens.

Mikmartn

https://community.quicken.com/discussion/comment/20469548#Comment_20469548

Thanks Jim, the IRA account in question, uses Simple tracking method, but I was able to find the transaction (Withdrwx) in the "Investing Activity" report. I was then able to drill-down and delete the transaction. That appears to have fixed it! Thanks for your help! -Mike

Jim_Harman

FYI if an account is set to Simple mode, you can see the underlying transactions by clicking on the gear at the top right, selecting Edit account Details, and setting it temporarily beck to Complete mode.

I would not recommend using Simple mode if you are using the Tax Planner, because it relies on detailed transactions that are not downloaded in Simple mode. This is less of an issue with tax deferred accounts, but as you can see it still complicates things.