IRA Distribution
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From: JM on 15 Sep 2005 21:56 Do you have the 'Transfers Out' set to '1099-R:Total IRA taxable distrib' for the IRA account?
From: JM on 15 Sep 2005 22:01 You are correct in that the IRA account is not checked in the Tax Sched Rpt - It is setting the 'Transfers Out' for the IRA account that triggers reporting the distribution as a taxable event. Looking at the transaction in the IRA acct - do you see a designation for a transfer in the category field, e.g., [<taxable acct name>]
From: PSJ on 15 Sep 2005 22:20 "JM" <zado_38(a)yahoo.com> wrote in message news:1126834868.796237.154360(a)g44g2000cwa.googlegroups.com... > What you see is correct - the IRA acct is not checked in the Tax Sched > Rept. > > It is setting the 'Transfers Out' for the IRA acct that triggers > reporting a taxable event. > > Looking at the IRA account transaction category field - do you see the > designation for a transfer?, i.e., [Taxable Acct] where 'Taxable Acct' > is the name of your taxable account? > There is no category field just acc't to transfer cash to another acc't just the acc't name of the taxable acc't. As I said before, I transferred the gross am't then in the taxable acc't had 2 withdrawals; withdrawals have categories.
From: JM on 15 Sep 2005 22:37 PSJ We got our thread a bit tangled - so let's pick it up from here. First, my appologies - the IRA account transfer transaction does not have a 'Category' field - it does have the 'Account' box in which you select the account to transfer-to which is your taxable account. I think were ok to this point. My last question was: In the IRA account - Do you have the 'Transfers Out' set to 1099-R:Total IRA taxable distribution'?
From: PSJ on 16 Sep 2005 00:42
"JM" <zado_38(a)yahoo.com> wrote in message news:1126838245.076341.320240(a)z14g2000cwz.googlegroups.com... > PSJ > > We got our thread a bit tangled - so let's pick it up from here. > > First, my appologies - the IRA account transfer transaction does not > have a 'Category' field - it does have the 'Account' box in which you > select the account to transfer-to which is your taxable account. > > I think were ok to this point. > > My last question was: > In the IRA account - Do you have the 'Transfers Out' set to > 1099-R:Total IRA taxable distribution'? > There is no transfer called 1099-R ... The only option that I see available is "Cash transferred out of acc't" Using this I can only name the acc't to which it was transferred, the amount, description & memo; none of these has anything to do with taxes -- except it is a withdrawal from an IRA. There are numerous types of transactions but none that have anything to do w/this issue. As the tax line item is correct for $ out of the acc't, I thought it would show in the tax schedule report but there is no 1099-R income from the IRA acc't. I can manually add it to the tax planner, but would like to see it in the tax schedule report. Thanks for bearing w/me on this. -- PSJ |