Does anyone out there who is using Quicken 2008 have an IRA distribution transferred to another investment account? If so, are your distributions displayed in the Tax Schedule report.? I already know about the date bug which has been in Quicken for several years.
Yes, if doing it in a test file counts.
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.]
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.
Well I can not reproduce what I (thought I) saw when I made my last post; I either need new glasses or a new brain.
I now don't see the same thing you don't see.
Sorry about that.
[Yes, I did set the Transfers Out Tax Attribute for the IRA account to "1099-R: Total IRA gross distrib."]
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.BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.