IRA Withdrawal

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.

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SunCityCal wrote:

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.

I have the same problem as SunCityCal and I tried your suggestion and it did not work. Any additional suggestions?

Set the custom date to Jan 1, 2007 and see what happens.

You jogged my memory - Are you making the distribution by transfering from the IRA to another account? If so what type [cash, brokerage]

As I recall, there is a problem getting this to work when transfering from an IRA to a regular brokerage account - in QW06 & QW07. Does work ok when transfering to a cash account.

There is a thread on this in this forum - about a year ago. Bug report was filed at that time.

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?

Not an expert on this, but, looking at a recent copy of of one of my

1099-R's; Box 1 of the 1099-R is labled 'Gross distribution' and Box 2a is labled 'Taxable distribution'. In my case the values in both boxes are the same.

Suspect these really become significant if you have a retirement account that contains some portion of non-taxable funds; e.g., a 401k for which you have made both pre-tax and after-tax contributions.

I get a check from my IRA, I deposit it and categorize it as income:IRA.

That is indeed the difference; I have both a pension & an IRA that has both $'s on which taxes have been paid & tax deferred $'s. The IRA is a little tricky at tax time as you must do the calculations each year. The pension is calculated as part of the 1099R.