Re: [GNC] "Realized Gains" in 401(k)
"Adam H. Kerman" <[email protected]>
| Newsgroups | gmane.comp.gnome.apps.gnucash.user |
|---|---|
| Message-ID | <[email protected]> |
4:43pm -0000 06/11/26 Sherlock <[email protected]> wrote: >Interesting. We use scheduled transactions to project future income and a >spreadsheet to estimate tax payments. I did a tax projection in November, then adjusted withholding from RMD which was taken end of November or early December. Withholding avoids the underpaid estimated tax penalty. If I were terribly clever, I could probably figure out a way to project taxes as I perform data entry of every item with tax implication but that's a lot of work for not a lot of benefit. Mostly I make sure to withhold enough based on last year's taxes, then write a check for the remaining tax liability on April 15. Like you, I'm using a spreadsheet. I use it for the actual tax computation. I wrote it for the two complicated worksheets, Taxable Social Security Benefits and Qualified Dividends, and then used it for all tax calculations. > On 6/11/26 2:02 PM, Adam H. Kerman wrote: >> 2:49pm -0000 06/11/26 Sherlock <[email protected]> wrote: >> >>> We track distributions from traditional retirement accounts as deferred >>> income by adding a pair of balanced splits to the transfer transaction. >> >>> For example: >> >>> Assets:Banking:Checking 100.00 >>> Assets:Investing:IRA 100.00 >>> Income:Deferred 100.00 >>> Income:Deferred:IRA 100.00 >> >>> Income:Deferred:IRA is flagged as "Tax Related" with the "F1099-R IRA total >>> dist - taxable" TXF category. >> >> Your accounts are going to balance with this approach, sure. But I'm >> entering RMD as a liability when it becomes known, with a January 1 date, to >> track it within the bookkeeping program as there are taxes to pay. > > _______________________________________________ > 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. > _______________________________________________ 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.