Tax Planner not showing IRA Withdrawls
Fidelity records an IRA Withdrawal. The category is assigned to my checking account. Tax Schedule is set to 1099-R Gross Distribution for this account. Nothing is showing in the Tax Planner. Quicken 2019 R16.14
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1 Do you have the TAX LINE assigned to the 1099-R Gross Distribution category?
2 Where did you set the 1099-R Gross Distribution category? Right click on the IRA account, select Tax Schedule at the bottom, and then Transfers Out should show "1099-R Gross Distribution". Then, you should have sold the IRA securities, resulting in a cash balance and then transferred the cash amount to your checking account or some other non-IRA investment account.
See this FAQ for entering retirement distributions in QWin;
https://getsatisfaction.com/quickencommunity/topics/faq-best-way-to-handle-distributions-from-ira?to...
Using this procedure should result in proper reporting of distributions in the tax reports and in the Tax Planner - it works for me.
Post back if you have any issues.
Quicken user since 1991
And just to emphasize, the Tax Line Item you need to use for transfers out of the IRA is 1099-R:Total IRA taxable distrib. The "gross" version is not noticed by the Tax Planner.
Yes, you delete the two Fidelity transactions - the withholding and the net distribution.
Yes, you enter the split transaction in your checking account.
The transfer of the gross distribution out of the retirement account replaces the two Fidelity transactions (gross = net + withholding).
Double check your tax line assignment for "Transfers Out" for your retirement account per the referenced post and per Rocket J Squirrels post (1099-R:Total IRA taxable distrib.).
In addition to reviewing results in the Tax Planner, also check QWins Tax Schedule Report for proper reporting.
Quicken user since 1991
Click "View tax form line items used here" on the "Taxable IRA\Pension Distributions" row in the tax planner, to see whether Quicken intends to include your Tax Schedule choice in the tax planner.
Questions? Check out the Quicken Windows FAQ list
You can effectively "store" transactions for future use.
Suggest you open Help and search for "Create bill or income reminder".
Toe get you started, right-click on a register transaction.
In the menu list, select "add Reminder".
Just follow the dialog.
To help with scheduling your Social Security income, see the attached screenshot.
Quicken user since 1991