This is an unfortunate limitation in Money. You can assign a category to the
transaction if you characterize it as a withdrawal. You can transfer money
from one account to another. You just can't do both (with the same
transaction).

I have a beneficiary IRA that was left to me by a relative who had begun
taking mandatory distributions. I am required to continue taking the same
distributions as taxable income until the account is depleted, which will be
well before I reach retirement age. Money doesn't deal with this situation
very well.

I have chosen to use "Transfer." When the IRA withdrawal is direct deposited
in my checking account, and then downloaded into Money, I enter the category
as "Transfer: Bank X IRA." This automatically reduces the IRA account, which
is at a bank that doesn't offer online services. I have to manually enter
the extra income into my tax program, but that's once a year, as opposed to
24 monthly transactions, so it works for me. YMMV.

Susan

"James Patrick" <jamespatrick[at]charter.net> wrote in message
news:8WOAf.426$%b1.318[at]fe04.lga...
- quote -

I'm new to Microsoft Money. When I withdraw money from my regular IRA
account and deposit the check in my savings account, how do I categorize the
money so it shows up as retirement income on tax reports?

The Transfer tab does not allow me to assign a category. The Withdraw tab
allows me to categorize the withdrawal as Retirement Income: IRA
Distributions, but does not add the withdrawal to the IRA cash balance, so I
can then transfer it to my savings account.

Suggestions, please.