Re: [GNC] Retirement funds accounting rule
"Adam H. Kerman" <[email protected]>
| Newsgroups | gmane.comp.gnome.apps.gnucash.user |
|---|---|
| Message-ID | <[email protected]> |
3:01am -0000 06/11/26 Adam H. Kerman <[email protected]> wrote: >If I set up books in gnucash according to tax law, if I'm accounting for an >IRA, when RMD is known, I enter it as a liability which gets reduced with >each distribution. I have to show both the asset transfer between the IRA >account and checking account AND ordinary income from the distribution. If >there is witholding from the distribution, then that reduces the tax >liability and is not shown as an asset transfer. Oops. Withholding is a tax payment expense too in addition to reducing the tax liability! _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.