Taxable transfer designation
I would like to have a new type of transaction for moving money between accounts. This would be used specifically for transferring money from a tax deferred account like an IRA to a regular brokerage or banking account. Call it something like “Taxable Transfer” or have a tickbox to indicate the transfer is taxable. This designation would be coded to have the incoming side of the transfer appear on the income tax reports as taxable income, but on other reports would show as a transfer between accounts. Currently, to have a transfer like this show up on the tax report requires me to add additional lines to the transfer transaction.
Comments
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@Terry175 This is essentially the issue described in an older Idea thread about tracking taxable withdrawals from IRA accounts, whether they are RMDs or Roth conversions:
Your suggestion to have a checkbox which could be manually checked to denote a taxable event might be one simple way of achieving the desired end result; there are likely other ways this could be done in Quicken — but we're agreed that there need to be a way to do this type of common financial transaction without adjustment hacks as is currently the case.
You should add your vote and a comment to paste your suggestion on that existing thread.
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