On Sun, Jan 1, 2023 at 8:55 AM Paul Marriott <[email protected]> wrote:
> I have a taxable investment account and an IRA. Every month RMD (required > minimum distribution) is taken from my IRA and added to my investment > account after Tax withholding. I am not sure how to post this > transaction. Right now I have: > 2006-01-02 * "RMD from IRA" > Assets:IRA -100 USD > Expenses: Taxes. 20 USD > Income:RMD. 80 USD > > 2006-01-02 * "Transfer from IRA" > Assets:InvestmentAC. 80 USD > Income:RMD. -80 USD > > The problem I want to record RMD as income, but with the above postings, > the income account is net zero. What am I doing wrong? Or maybe I just > cant record it as income, although it will appear as income on my Tax > Return. > Technically they're not income, they're distributions. Taxable distributions. I wouldn't book them under an income account. This is one of those cases - there are many more - whereby you want to count the amounts incoming to that RMD account. There are two ways I've handled this in the past: (a) by mirroring (with a plugin) the amounts posted to RMD to two distinct sets of accounts, (b - simpler) by issuing a query to count them up over a period of time (the amounts don't automatically update any account). -- You received this message because you are subscribed to the Google Groups "Beancount" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/beancount/CAK21%2BhOWtMk4Q08hahTQRcPynRUxVpT_JPvW9_wLwcV7MUqzfQ%40mail.gmail.com.
