Mandatory IRA Distribution
Community User Member ✭✭✭✭
Last year I decided to use QW2005 to keep track of income and expenses for inclusion into Turbo Tax. I've cleaned up the data pretty much but one issue is still a problem -- <_i>_Mandatory IRA Distribution and associated Federal Withholding Taxes<_/i>_. This has been discussed in this forum and elsewhere ( see "_Record withholding taxes on IRA sale"_ in the Quicken forum's <_i>_Investments in Quicken<_/i>_ and in the discussion in <_url>_http:://tinyurl.com/awkyk<_/url>_ ). It apparently is a continuing bug.In my case, mandatory distributions were taken from two different IRA accounts. Attached is a spreadsheet based on the transactions generated. As you can see, there are a fair number of transactions. Should I set up a dummy cash account to handle the transfers? Or can this be handled in the existing investment cash account without trashing the existing transactions? Either way, I would appreciate step-by-step instructions for handling the transfers. Thanks in advance for any help you can give.