Interesting. We use scheduled transactions to project future income and
a spreadsheet to estimate tax payments.
On 6/11/26 2:02 PM, Adam H. Kerman wrote:
2:49pm -0000 06/11/26 Sherlock <[email protected]> wrote:
We track distributions from traditional retirement accounts as deferred
income by adding a pair of balanced splits to the transfer transaction.
For example:
Assets:Banking:Checking 100.00
Assets:Investing:IRA 100.00
Income:Deferred 100.00
Income:Deferred:IRA 100.00
Income:Deferred:IRA is flagged as "Tax Related" with the "F1099-R IRA total
dist - taxable" TXF category.
Your accounts are going to balance with this approach, sure. But I'm
entering RMD as a liability when it becomes known, with a January 1 date, to
track it within the bookkeeping program as there are taxes to pay.
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