Again, nothing that I'm no expert: It seems to me that your solution has four splits, while mine has... four splits.
Depending on the actual event, either could be valid. For example, a conversion between accounts at a single brokerage might look like your example, while one from one brokerage to another might work better with mine. David T. On Apr 7, 2024, 7:43 AM, at 7:43 AM, Fred Tydeman <tydeman.f...@gmail.com> wrote: >I assume that that Distributions account should be of type Income (not >Asset). > >It appears that Income accounts cannot have a stock account type (so >cannot >move stock via this method). >Would have to fake it by selling the stock (in 'from' account) to get >cash, >move the cash, then buy the stock >(in the 'to' account). > >Also, since X dollars come into Distributions and X dollars leave, the >net >is zero. So, any report would >show zero income. > >I think a better solution is to use four splits: > Cash or stock coming out of Regular IRA Asset account > Cash or stock going into Roth IRA Asset account > Cash going into a Distributions Income account > Cash going into a dummy Expense account > >Then, make sure to exclude the dummy Expense account in any reports. > > >On Sat, Apr 6, 2024 at 12:43 AM sunfis...@yahoo.com ><sunfis...@yahoo.com> >wrote: > >> I am not really knowledgeable in this area (or many other areas, to >be >> honest), but I found the following discussion (in a Quicken forum) >that >> might lead you towards an answer: >> >https://community.quicken.com/discussion/7931315/tax-summary-report-does-not-include-income-for-conversions-to-roth-ira >> >> My reading of that post suggests that you might first sell your >regular >> IRA into a (taxable) Distributions account. That would allow >creation of >> any gains entries necessary. Then use the Distributions account to >buy into >> the Roth. >> >> I'm sure others will inform me and you of the errors in my advice. >> >> David T. >> On Apr 6, 2024, at 8:02 AM, Fred Tydeman <tydeman.f...@gmail.com> >wrote: >>> >>> Suggestions on how to record moving cash and stock from >>> a regular IRA to a Roth IRA so that a taxable event is recorded? >>> ------------------------------ >>> >>> gnucash-user mailing list >>> gnucash-user@gnucash.org >>> 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 gnucash-user@gnucash.org 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.
