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| In microsoft.public.money, P Bryant wrote: - quote - > Does anybody have a better way to do this without doing
I don't know how you would do it with only one transaction. I might> two transactions? use 3, because I would not feel comfortable using Remove Shares. |
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| In 2003 I turned 70 1/2 and had to start taking normal distributions from my Traditional IRA's. Strong Funds makes distributions by selling the shares of your mutual funds to cover the $dollar amount distributed. When I enter the "sell" in my portfolio, it categorizes it automatically as a "Capital Gains" distribution, not as an IRA distribution. Normal distributions are taxed as "Income" not "Capital Gains". I can't seem to find a way to remove the shares and still have Money put the moneys in as "Income" without doing two transactions. 1) Enter an Investment Transaction and select "Remove Shares". This will remove the shares without associating any $dollars or category with it. 2) Then, enter a Deposit Transaction (checking account) and categorize it as a Retirement Income:IRA Distribution. This will put this entry on my tax reports as an "IRA Distribution" instead of a "Capital Gain". Does anybody have a better way to do this without doing two transactions? |
| Tags |
| distribution, ira |
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