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Subject Author Date
IRA Withdrawal SunCityCal 12-17-2006
Posted by SunCityCal on December 17, 2006, 7:21 pm
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 I am trying to figure out how to show my yearly IRA withdrawal and have it
show up as income at tax time.

I can transfer it to my checking account or the Money Market Fund, but it
does not seem to register as income.

Any help appreciated.

--



Posted by JM on December 17, 2006, 8:25 pm
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SunCityCal wrote:
> I am trying to figure out how to show my yearly IRA withdrawal and have it
> show up as income at tax time.
>
> I can transfer it to my checking account or the Money Market Fund, but it
> does not seem to register as income.
>
> Any help appreciated.
>
> --

Open the Summary View for the IRA account.

In the Account Attributes section - click on Options and select Set Tax
Attributes.

In the pop-up window set Transfers Out: to '1099-R:Total IRA taxable
distrib'.

Run QW's Tax Schedule Report to verify response - look under the 1099-R
section for taxable income reporting.

430 No such article

SunCityCal wrote:
> I am trying to figure out how to show my yearly IRA withdrawal and have it
> show up as income at tax time.
>
> I can transfer it to my checking account or the Money Market Fund, but it
> does not seem to register as income.
>
> Any help appreciated.
>
> --

Open the Summary View for the IRA account.

In the Account Attributes section - click on Options and select Set Tax
Attributes.

In the pop-up window set Transfers Out: to '1099-R:Total IRA taxable
distrib'.

Run QW's Tax Schedule Report to verify response - look under the 1099-R
section for taxable income reporting.


Posted by Dick on December 18, 2006, 3:13 pm
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I have the same problem as SunCityCal and I tried your suggestion and it did
not work. Any additional suggestions?

>
> SunCityCal wrote:
>> I am trying to figure out how to show my yearly IRA withdrawal and have
>> it
>> show up as income at tax time.
>>
>> I can transfer it to my checking account or the Money Market Fund, but it
>> does not seem to register as income.
>>
>> Any help appreciated.
>>
>> --
>
> Open the Summary View for the IRA account.
>
> In the Account Attributes section - click on Options and select Set Tax
> Attributes.
>
> In the pop-up window set Transfers Out: to '1099-R:Total IRA taxable
> distrib'.
>
> Run QW's Tax Schedule Report to verify response - look under the 1099-R
> section for taxable income reporting.
>



Posted by nospam on December 18, 2006, 3:28 pm
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>I have the same problem as SunCityCal and I tried your suggestion and it
>did not work. Any additional suggestions?
>
>>
>> SunCityCal wrote:
>>> I am trying to figure out how to show my yearly IRA withdrawal and have
>>> it
>>> show up as income at tax time.
>>>
>>> I can transfer it to my checking account or the Money Market Fund, but
>>> it
>>> does not seem to register as income.
>>>
>>> Any help appreciated.
>>>
>>> --
>>
>> Open the Summary View for the IRA account.
>>
>> In the Account Attributes section - click on Options and select Set Tax
>> Attributes.
>>
>> In the pop-up window set Transfers Out: to '1099-R:Total IRA taxable
>> distrib'.
>>
>> Run QW's Tax Schedule Report to verify response - look under the 1099-R
>> section for taxable income reporting.
>>
>
Set the custom date to Jan 1, 2007 and see what happens.



Posted by Dick on December 18, 2006, 7:05 pm
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Thanks changing the date to 1/12007 fixed the problem. Anyone know what the
difference between a 1099R Total IRA gross distrib. and a Total IRA taxable
distri. is?

>
>>I have the same problem as SunCityCal and I tried your suggestion and it
>>did not work. Any additional suggestions?
>>
>>>
>>> SunCityCal wrote:
>>>> I am trying to figure out how to show my yearly IRA withdrawal and have
>>>> it
>>>> show up as income at tax time.
>>>>
>>>> I can transfer it to my checking account or the Money Market Fund, but
>>>> it
>>>> does not seem to register as income.
>>>>
>>>> Any help appreciated.
>>>>
>>>> --
>>>
>>> Open the Summary View for the IRA account.
>>>
>>> In the Account Attributes section - click on Options and select Set Tax
>>> Attributes.
>>>
>>> In the pop-up window set Transfers Out: to '1099-R:Total IRA taxable
>>> distrib'.
>>>
>>> Run QW's Tax Schedule Report to verify response - look under the 1099-R
>>> section for taxable income reporting.
>>>
>>
> Set the custom date to Jan 1, 2007 and see what happens.
>



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