Yes as David R suggests: When income is originally deferred into a regular Ira, or when there is growth in the Ira value (interest, dividends, cap gains all don't matter)
Debit asset:IRA $xx Credit income:untaxed:IRA deferred $xx Then when you withdraw capital from the IRA: Credit asset:IRA $yy Debit asset:other account $yy Debit income:untaxed:IRA deferred $zz Credit income:taxable:IRA $zz Note that zz might be less than yy in the event you have taxable basis in the Ira and hence not all of each withdrawal may be taxable. There should be no "dummy expense" account. On Sun, Jun 7, 2026, 1:33 PM David T. via gnucash-user < [email protected]> wrote: > I am not an accountant. I only have retirement accounts from which I have > not yet taken distributions. > > I am sure that Michael or others will correct me, but the income account > transaction should most likely be balanced by the income account that > funded the IRA originally (such as Income:Wages:Deferred or > Income:Dividends:Untaxed). For a fully taxable IRA, it might simplify > things to transfer the value of the IRA to a single equity account and > balance against that-- although that's just my uneducated opinion (and > would pose the problem of handling later interest transactions). > > I also do not know how the reports will handle these transactions. I do > not know specifically how the advanced portfolio would handle them. > > David T. > > On June 7, 2026 9:32:15 PM GMT+05:30, Wm Tarr <[email protected]> wrote: > >I'm in the UK but there is plenty about IRAs and RMDs in the list > archives. > > > >Wm > > > >On 2026-06-07 15:46, Fred Tydeman wrote: > >> In looking at the transactions, it is due to the way I entered my > >> Required Minimum Distribution (RMD) for my Regular IRA. > >> There are the two normal splits of: > >> selling some shares and > >> putting the proceeds into an asset account (bank). > >> > >> I wanted by RMD to show up as taxable income, so I added two > >> more splits of: > >> Income account (IRA distribution) > >> Expense account (dummy to balance that income). > >> > >> It is that dummy Expense split that shows up as both > >> the unrealized loss and > >> the brokerage fees > >> > >> Is there a better way to record the RMD as taxable income? > >> > >> > >> On Sun, Jun 7, 2026 at 5:34 PM Wm Tarr <[email protected]> wrote: > >> > >> Try the various options for "How to report brokerage fees" to see > >> if one > >> makes more sense than the others. If it is showing brokerage fees > >> you > >> must have entered them, surely? > >> > >> Wm > >> > >> On 2026-06-07 03:58, Fred Tydeman wrote: > >> > I am looking at the Advanced Portfolio report for an account. > >> > One of the holdings is a money market that has a constant price > >> of $1.00 > >> > The Advanced Portfolio report shows an Unrealized loss for that > >> money > >> > market. > >> > I am expecting a gain/loss of zero (since the price is constant). > >> > > >> > Also, that report shows a large amount of Brokerage Fees, > >> > yet there are no fees for any of the transactions. > >> > > >> > Are these bugs? > >> > _______________________________________________ > >> > gnucash-user mailing list > >> > [email protected] > >> > To update your subscription preferences or to unsubscribe: > >> > https://lists.gnucash.org/mailman/listinfo/gnucash-user > >> > ----- > >> > Please remember to CC this list on all your replies. > >> > You can do this by using Reply-To-List or Reply-All. > >> _______________________________________________ > >> gnucash-user mailing list > >> [email protected] > >> To update your subscription preferences or to unsubscribe: > >> https://lists.gnucash.org/mailman/listinfo/gnucash-user > >> ----- > >> Please remember to CC this list on all your replies. > >> You can do this by using Reply-To-List or Reply-All. > >> > >_______________________________________________ > >gnucash-user mailing list > >[email protected] > >To update your subscription preferences or to unsubscribe: > >https://lists.gnucash.org/mailman/listinfo/gnucash-user > >----- > >Please remember to CC this list on all your replies. > >You can do this by using Reply-To-List or Reply-All. > _______________________________________________ > gnucash-user mailing list > [email protected] > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
