In my experience, the issue is that money diverted to a retirement vehicle is registered as (some form of) income at the time of initial receipt, and diverted into the tax preferred asset account, so as to track those funds. When pay out from the retirement account occurs, however, the retiree is expected to report this as income-- but in the books, it's a transfer between asset accounts, which aren't categorized as income anywhere. Michael's response on this thread left me still wondering what the proper way to handle this might be, as the only pen and paper accounting I've done was a personal check book back in the 1980s.
Yet Another David, This Time With A T. -------- Original Message -------- From: David Carlson <david.carlson....@gmail.com> Sent: Fri Apr 02 14:53:20 EDT 2021 To: "David G. Pickett" <dgpick...@aol.com> Cc: "gnucash-user@gnucash.org" <gnucash-user@gnucash.org> Subject: Re: [GNC] Tax deferred account transfers suggestion I am not able to confirm right now but IIRC it is already possible to assign transfers from tax advantaged accounts as well as other accounts that trigger 1099s in the US to the respective forms in the tax report. On Fri, Apr 2, 2021 at 1:45 PM David G. Pickett via gnucash-user < gnucash-user@gnucash.org> wrote: > It'd be nice if the transfers from tax deferred accounts (401k, IRA) to > not tax deferred showed as taxable income on the tax report. Reverse > transfers might also be listed as tax deductions. > _______________________________________________ > 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. > -- David Carlson _______________________________________________ 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. _______________________________________________ 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.
