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Posted by nospam on February 7, 2008, 7:08 am
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>
>
>
>
> > nospam wrote:
> >> Does anyone out there who is using Quicken 2008 have an IRA
> >> distribution transferred to another investment account?
>
> > Yes, if doing it in a test file counts.
>
> >> If so, are your distributions displayed in the Tax Schedule report.?
>
> > Yes, if I have set the IRA account "Tax Attributes" to show that
> > transfers
> > out are assigned to a Tax Schedule Line Item.
>
> > [Account "Overview" tab, "Options" on the "Account Attributes" title
> > bar.]
>
> > --
> > John Pollard
> > First initial underscore Last name at mchsi dot com
> > Please reply to newsgroup
> > Thanks for answering, John. Did you set the Tax Schedule Line Item to
> > one
> > of the 1099-IRA Distribution choices?
>
> I did a little more research and found this result: If the transfer is
> from
> one investment account (in my case a Mutual Fund) to another investment
> account and the 1099-IRA tax item is chosen the distribution is not shown
> in
> the Tax Schedule report. If the distribution is transferred to any other
> type account (Spending, etc.) the distribution is shown. Also if the
> transfer is from any type account other than investment it will show. Make
> any sense? I'm using 2008 Deluxe if that makes any difference. I always
> used investment to investment transactions in prior versions of Quicken.
> Maybe I have some setting wrongly selected.- Hide quoted text -
>
> - Show quoted text -
>This bug has been around since about QW05 as best I can recall. There
>have been several threads on it in this forum and in Intuit's forum. I
>have filed bug reports two times and believe others have filed.
>One work around discussed was to use an intermediate cash flow
>account; transfer from the IRA to the cash flow account and from there
>to the investment account. Bit cumbersome but does get the tax
>reporting correct.
Thanks JM. I had already figured out the cash flow solution before I
posted. I looked back through my Mutual Fund IRA transactions and found
that I had always used the investment to investment transaction up until the
2nd qtr of last year. At that time I had the distribution placed in a
checking account. I only noticed the difference when I had already
converted all my past files to 2008. I checked my 2007 file to verify the
dividend payment time of a certain stock and noticed that the 1st qtr.
distribution didn't appear on the report. I have a text copy of my 2006 Tax
Schedule report that shows all investment to investment transactions and the
IRA dists. are shown and I know my 2007 file was correct because TurboTax
2007 recognized the transactins, although I'm not sure how TurboTax does
that. I rarely post to this group, because I don't have many problems with
Quicken. I first discovered the date problem several years ago and that
bug has changed over time. Anyway, thanks for the response and I will just
work it out.
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