what I am doing right now is adding a tag so I can at least track RMD's. Its really a deferred income stream, but since it was received in the past before I started using beancount, I'll just tag them so I can collect the year end amounts to check and/or include on my tax return.
2006-01-02 * "RMD from IRA" #RMD Assets:IRA -100 USD. ; from tax free IRA account (cash) Expenses: Taxes 20 USD. ; to Uncle Sam - IRS Witholding Assets:InvestmentAC 80 USD ; to taxable brokerage account (cash) On Saturday, December 31, 2022 at 5:52:56 PM UTC-6 [email protected] wrote: > Thinking further on this, this problem is so common that it deserves some > new abstraction (beyond just solving the issue with a plugin). I'm not sure > what that would look like, but some way to automatically update the value > of a pair of accounts based on the flows into a third one is what I'm > thinking about. > > On Sun, Jan 1, 2023 at 10:50 AM Martin Blais <[email protected]> wrote: > >> 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/9604f242-6112-474d-9bc8-5ec540fc4212n%40googlegroups.com.
