Why Does My Roth-IRA Distributions Get Reported as Income?
Dangerruss
Member ✭✭✭
From what I understand, distributions from a Roth IRA is non taxable,
Actually running Quicken 2019 Premier R25.18
0
Best Answer
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Open the Roth account, press Ctrl + Shift + E, choose Yes for Tax deferred, select Tax Schedule, select 1099-R: Total IRA gross distrib. in the Transfers out pull-down menu, OK, and OK.
Note: The income from a Roth account should be reported as non-taxable.1
Answers
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How do you have the tax attributes on that account set? Merely using the Roth name isn't sufficient.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
Not sure how I set tax attributes for this distribution in my checking account.Actually running Quicken 2019 Premier R25.180
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Open the Roth account, press Ctrl + Shift + E, choose Yes for Tax deferred, select Tax Schedule, select 1099-R: Total IRA gross distrib. in the Transfers out pull-down menu, OK, and OK.
Note: The income from a Roth account should be reported as non-taxable.1 -
I figured that out.. Thanks. But, when I do a report it still shows up as income.Actually running Quicken 2019 Premier R25.180
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There are a variety of ways we may exclude income and expense due to transfers between an account included in a report and an account excluded from a report. For example, we may exclude the account transfer category: open the report, press Alt + C, select the Categories tab, uncheck the Roth account category. and select OK.Dangerruss said:I figured that out.. Thanks. But, when I do a report it still shows up as income.0
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