RMD Distributions

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KTidler
KTidler Member ✭✭
edited November 2018 in Investing (Windows)
Quicken for Windows 2018- Can RMDs be done in less than 3 transactions?

So I transfer from the investment account to the checking
account – that gets the money correct in the investment account.  I still
need to credit RMD income, take out fed taxes and state taxes that have been
withheld for actual usable cash.  1) from investment to checking -full withdrawal amount  
Then in checking account  2) withdrawal amount credited to RMD income – fed withholding – state
withholding that gives net which was actually deposited.  Then also in checking account  3) a correction entry for the original transaction to correct the balance. 

I need balances to be correct with transactions posted to RMD income, Fed taxes, State taxes. 
Thanks

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  • mshiggins
    mshiggins SuperUser ✭✭✭✭✭
    edited January 2018
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    Please see the FAQ post on this topic:



    https://getsatisfaction.com/quickenco...

    Quicken user since Q1999. Currently using QW2017.
    Questions? Check out the Quicken Windows FAQ list

  • Clayton200
    Clayton200 Member ✭✭✭
    edited November 2018
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    That thread is basically how mine is set up. I do, however use a Scheduled "Paycheck" transaction to make the transfer from the Brokerage account to the Checking. Works for me and TurboTax doesn't balk on it.
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