IRA Income and Reports

Zaidy036 <[email protected]> Fri, 15 Dec 2023 12:53:37 -0500
Newsgroups alt.comp.software.financial.quicken
Organization A noiseless patient Spider
Message-ID <[email protected]>
Just a caution about taking IRA, but NOT ROTH IRA, income and having 
valid reports.

My file includes a checking account and separate IRA investments using 
TR Price and others. I required cash and decided to use the IRA as the 
source. For tax purposes an IRA withdrawal is taxable but since I held 
both in the same Quicken file it was treated as a transfer and was NOT 
included in reports as income.

To have it included as income I sold shares from the TR Price IRA 
account and transferred the cash into a TR Price Transfer account and 
then withdrew from there and deposited into checking as a category 
"Income, IRA". All reports must be customized to NOT include TR Price 
Transfer account and then the IRA income is included properly.