Thanks so much, I have been battling with this issue for months on how to get
this to show up in the correct areas. I guess I was trying to make it to
complicated.
--
ct


"Cal Learner-- MVP" wrote:

- quote -

It's important to remember that some canned categories do more than
merely group income or expenses.

The Retirement Income: IRA Distributions category, for instance, is
configured so that data will be properly exported to your tax software
for your 1099R reporting.

Additional info:
http://umpmfaq.info/faqdb.php?q=189


"Ron Boyd" <ronboyd[at]qwest.net> wrote in message
news:2BA1182C-ADD2-4E5D-9A64-9B303511E7C8[at]microsoft.com...
- quote -

I just use Miscellaneous: Adjustment to get rid of the proceeds in the
Contributions account, then use Paycheck with the Retirement Income: IRA
Distributions to put the money to the account where I deposit the check. It's
messy but it works for the income accounting. You need to ignore Transfers
when you do Monthly Reports.


"Ron Boyd" wrote:

- quote -

In microsoft.public.money, Ron Boyd wrote:

- quote -

That's what I was suggesting.

- quote -

I am sure that was not the purpose. If you don't like a category,
either Delete or ignore it.


- quote -

You seem to have things under control.


- quote -

Cal,

I am unsure how that would work. I make a deposit of funds from nowhere and
then make a payment to nowhere in a different account to balance things out?

(I am beginning suspect the RI:ID category is a "Red Herring" that is
designed purely and simply to further confuse the user.)

What am I missing?


"Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
news:j4qsu3put666majv0ku4i9kpl90f4dedr4[at]4ax.com...
- quote -

Ron, your reworded query is beyond my knowledge of how Money handles this
type of transaction.

Ken

"Ron Boyd" <ronboyd[at]qwest.net> wrote in message
news:F637C788-48E0-4B45-813B-024DB1E5A5D0[at]microsoft.com...
| Yes, but... that wasn't my question. You are correct, however. I should
have
| set up the question better.
|
| I have an IRA account. I wish to withdraw funds (take a distribution). My
| solution (based upon the "Income from Tax-Deferred Retirement
| Account" thread) is to:
|
| 1. Transfer the funds from the IRA Account to the associated
(Contribution)
| Account.
| 2. Using the "Paycheck" function, transfer the funds from the
(Contribution)
| account to a Checking Account.
|
| The problem with this is, of course, that it does not register as "Income"
| and thus does not play a role in, for instance, "Income Tax estimating" as
| well as other irritations involved in a "non-Income" Income transaction.
|
| If I use the "Retirement Income: IRA Distributions" category under "Wages"
| in the Paycheck function, the funds are correctly assigned to Income.
| However, I find no way to (in that simple transaction) remove the funds
from
| the IRA Account thus the Account Balance is not adjusted properly.
|
| Just to cover all bases: I understand that Money (for whatever reason)
does
| not consider funds transfered from a tax-deferred account as income.
| Nevertheless, the IRS does and, as such, expects me to correctly calculate
| the tax liability. I expect MS Money to help with that job and not make me
| resort to a legal pad.
|
| So to rephrase my (2-part) question:
|
| What is the purpose of the "Retirement Income: IRA Distributions" category
| and how does one use it in Microsoft Money?
|
|
| "Ken" <PleaseReply[at]NewsGroup.Thanks> wrote in message
| news:%23IwxwIakIHA.980[at]TK2MSFTNGP06.phx.gbl...
| > Perhaps you might want to acquire IRS publication 590.
| | > When a person reaches age 70 and retired they should take required
minimum
| > distribution (RMD), else huge 50% or more penalty.
| | > I would start with the publication.
| | > Ken
| | > "Ron Boyd" <ronboyd[at]qwest.net> wrote in message
| > news:2BA1182C-ADD2-4E5D-9A64-9B303511E7C8[at]microsoft.com...
| | > | I asked this question within the "Income from Tax-Deferred Retirement
| > | Account" thread over a month ago but received only silence. So let me
| > try
| > it
| > | a a stand-alone question:
| > |
| > | What is the purpose of the "Retirement Income: IRA Distributions"
| > category
| > | and how is it used?
| > |
| > |
| |

In microsoft.public.money, Ron Boyd wrote:

- quote -

You could use that to enter a deposit transaction into your checking
account for the amount of the distribution. You would need to also
add a Payment transaction from your IRA.

It would be nice if Money were to make a transfer from IRA to a
non-retirement account to be the equivalent so that the income tax
estimator would pay attention, but it doesn't.

Yes, but... that wasn't my question. You are correct, however. I should have
set up the question better.

I have an IRA account. I wish to withdraw funds (take a distribution). My
solution (based upon the "Income from Tax-Deferred Retirement
Account" thread) is to:

1. Transfer the funds from the IRA Account to the associated (Contribution)
Account.
2. Using the "Paycheck" function, transfer the funds from the (Contribution)
account to a Checking Account.

The problem with this is, of course, that it does not register as "Income"
and thus does not play a role in, for instance, "Income Tax estimating" as
well as other irritations involved in a "non-Income" Income transaction.

If I use the "Retirement Income: IRA Distributions" category under "Wages"
in the Paycheck function, the funds are correctly assigned to Income.
However, I find no way to (in that simple transaction) remove the funds from
the IRA Account thus the Account Balance is not adjusted properly.

Just to cover all bases: I understand that Money (for whatever reason) does
not consider funds transfered from a tax-deferred account as income.
Nevertheless, the IRS does and, as such, expects me to correctly calculate
the tax liability. I expect MS Money to help with that job and not make me
resort to a legal pad.

So to rephrase my (2-part) question:

What is the purpose of the "Retirement Income: IRA Distributions" category
and how does one use it in Microsoft Money?


"Ken" <PleaseReply[at]NewsGroup.Thanks> wrote in message
news:%23IwxwIakIHA.980[at]TK2MSFTNGP06.phx.gbl...
- quote -

Perhaps you might want to acquire IRS publication 590.

When a person reaches age 70 and retired they should take required minimum
distribution (RMD), else huge 50% or more penalty.

I would start with the publication.

Ken

"Ron Boyd" <ronboyd[at]qwest.net> wrote in message
news:2BA1182C-ADD2-4E5D-9A64-9B303511E7C8[at]microsoft.com...

| I asked this question within the "Income from Tax-Deferred Retirement
| Account" thread over a month ago but received only silence. So let me try
it
| a a stand-alone question:
|
| What is the purpose of the "Retirement Income: IRA Distributions" category
| and how is it used?
|
|

I asked this question within the "Income from Tax-Deferred Retirement
Account" thread over a month ago but received only silence. So let me try it
a a stand-alone question:

What is the purpose of the "Retirement Income: IRA Distributions" category
and how is it used?