I withdrew money from my Money Market fund to satisfy my RMD. The account is with VG and I want to show in quicken, the gross amount, the net amount and the amount withheld for taxes. Here is what the VG download did.
First line entry shows "removed" with the total gross amount, with no cash added to account. Second line entry shows a transfer to a VG taxable investment account which is the net amount. No provisions for the amount withheld for taxes.
Things I tried, there is not a split transaction available to separate the net amount into the taxable account and the Fed Tax with held.
Thru "bumbling type accounting", here is what seemed to work:
- Changed the transaction to sold which put cash into the account
- Did a Withdraw to send the Tax withheld to the FEDTAX account
- Did a Withdraw to send the remaining of the net amount to the Taxable investment account MM fund.
Got to be a better way?? Tx