I’m sure there are various methods but you can change IRA distributions to be a parent account. Then make the necessary sub-accounts for the various distributions.
You can report on only the total distributions or the individual ones as needed. You also don’t need to make a transaction include only 2 accounts. You can have as many splits as you like. It looks like you’re adding layers and accounts simply by following a 2-split per transaction artificial limitation. (which does not exist in GnuCash) That withholding split can be a part of the original transaction. Regards, Adrien > On Oct 1, 2019 w40d274, at 11:49 AM, <orn...@tutanota.com> > <orn...@tutanota.com> wrote: > > I would like to track IRA disbursements. (For those who don't know, an > Individual Retirement Account is a US category of retirement investments in > which taxes are not paid until the funds are withdrawn, i.e., "disbursed." In > our case and these are disbursements from an IRA mutual fund and will be > re-invested in a taxable mutual fund. > > 1. I'm currently using the simplest way - Cr losing IRA mutual fund $100, Dr > gaining taxable fund $80, Dr withholding tax $20. I keep track of where the > various distributions are by using the term "Distributions" in the GnuCash > Description block. That way I can easily find them. > > 2. I tried setting up an "IRA Distributions" account but I found it > unsatisfactory for various reasons, at least the way I set it up. It require > two transactions instead of one. First, Cr losing IRA fund $100 and Dr IRA > Distributions. Then, from the "IRA Distributions" account, Dr "IRA > Distributions" $100, Cr "Withholding tax" $20, and Dr gaining taxable account > $80. > > I had two problems I had with the second approach before I returned to the > simple approach. It abstracted the re-investment and the withholding tax from > the actual distribution and I found it confusing, even after I created it. > Also, the "IRA Distributions" account was self-zeroing, as my debits and > credits were equal - I was hoping for an approach that would clearly show my > distributions over time. > > Between my wife's accounts and mine - different flavors of tax-benefitted and > taxable accounts - I'm tracking 20+ accounts and I would like some > suggestions as to a simple, clear way to do it. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
