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IRA Income and Reports
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Zaidy036
Dec 15, 2023, 12:53:41 PM12/15/23
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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.
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.
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