Apologize if this is a repeat, posted about 1 week ago, can't find it now...but. RMD from my broker, they held 20% for tax purposes, sent me a check (80%). Easy way, treat the 80% as a deposit in checking account and forget about it. BUT, I want to enter it in Q to keep track of it. Create a FEDTAx account, split the deposit with 20% here, 80% checking account. Then when I pay taxes :-( transfer the tax holding to checking OR split the tax payment from checking and FEDTAx account. If I am lucky?? total tax due might be less than the 20% in the FEDTAx account, how would you reconcile the difference. I know multiple ways this may turn out, but I want to do it "right"!!
- posted
10 years ago