Pension Transfers
I am transferring/withdrawing/receiving a payment from a retirement account I have set up on MoneyDance as an investment account to a bank account I have set up on MoneyDance as a bank account. I create a SellXfr transaction in the investment account with a Description "IRA Payment", the required security, the bank account I am transferring to in the Transfer field, shares, amount, price, withholding tax amount, etc. and the transfer shows appropriately in the bank account.
However, when I run an income report the amount does not show. I run an Income and Expenses report including all account and all categories. I think I need to record the transaction as Retirement Income which is a category I use to receive external cash payments I receive from a former employer. I record that transaction as a Cash Deposit and a Category of Retirement Income but I don't know how to do that from a transaction initiated in my investment account.
Any thoughts, ideas, suggestions would be appreciated. Thank you.
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1 Posted by dwg on 19 Jan, 2026 08:44 PM
Moneydance sees the transfer as moving money from one asset to another, which technically is what it is.
The attached extract shows one methodology of showing an amount as tax and an amount as income.
2 Posted by alan.hawken on 20 Jan, 2026 01:21 PM
Thank you very much for the quick and complete response. I believe it has provided a solution to my problem but I need to work through it and understand it more, first.