IRA Annual Distributions

John Pierce's Avatar

John Pierce

04 Nov, 2021 08:10 PM

Why are my IRA annual Distributions showing up a Negative values under income in the Income and Expense Reports?

  1. 1 Posted by James Khalaf on 04 Nov, 2021 08:40 PM

    James Khalaf's Avatar

    Good question.
    What I did was figure that the distribution is, in my case, really only a transfer from my IRA to a cash account. The only expense is withholding tax. I made a tag for it, so if I ever have to know how much I RMD'd in a year I can easily look it up.
    Inelegant, but it works.

    Anyone else?

  2. 2 Posted by JJ Pierce on 04 Nov, 2021 10:07 PM

    JJ Pierce's Avatar

    Thanks James, the problem is that the negative value that shows up in the download winds up as a negative number in the Income Report thereby reducing Income when it should be increasing income.
    Hopefully the team at Infinite will have a solution.
    John

  3. 3 Posted by sprimost on 04 Nov, 2021 11:12 PM

    sprimost's Avatar

    From: sprimost

    May I suggest that you search the archives of the forum. There are a
    number of "working solutions and good suggestions/discussions.

    Snapshot explanation: For me, I do a "sell from the RA security., and
    then do a misc-Expense using a "contra-account (actually a placeholder
    that tallies how much is done). The I "income the amount, deducting the
    taxes. All in all, the "mess" shows up as income for the RMD withdrawal,
    and there is a negative amount in an contra-income category.

    /scp

  4. 4 Posted by JJ Pierce on 05 Nov, 2021 12:46 AM

    JJ Pierce's Avatar

    Thank you,
    John

  5. 5 Posted by JJ Pierce on 09 Nov, 2021 07:16 PM

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    Why is it I never get a reply to a support request?

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  6. System closed this discussion on 08 Feb, 2022 07:20 PM.

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