IRA Tax Withholding Categorization

Question

Why would an IRA's distribution tax withholding show under taxes under the appropriate categories (fed & state) but also show as uncategorized?  Multiple distributions and total tax withholding and uncategorized are the same amount.  Even if my process is flawed I would assume it would be one or the other.  Any insight is most welcome.

Dom1 · Answer

Sorry for long winded response.

Funds are coming from a MM within a Rollover 401K.

I download the transaction from the IRA and accept in total (first image).  I then copy a deposit transaction from our checking and adjust the amounts as necessary.

Quicken then asks if this corresponds to a transaction on the IRA or something to the effect and I respond in the affirmative.

I figure I'm not doing this correctly. However I can report total distributions and taxes withheld.  It just that it also shows the taxes as uncategorized.

From Rollover:

Our Checking

NotACPA · Answer

What type of account are you showing the example from?

How are the Withdrawals from your 401k set re: "Tax Schedule"?

Because the usual method of recording these is to transfer the entire amount from the 401k (with the Tax Schedule set to "1099-R: Total Pension Gross  Distribution") and the the taxes withheld (in the non-taxable account) shown as negative amounts … resulting in the Net deposit being shown in the register of the banking account.

But, since you haven't shown what you're describing, it's a bit tough to diagnose.  You haven't shown anything as being "Uncategorized".