I could be missing something, but I thought that was already covered by
one of the answers. Also, I'm pretty sure the proper place to record and
track that is in an Asset account, not Equity.
As for the transactions, if you need to do virtual 'extra tracking'
beyond just the physical withdrawal, you can do that all in one
transaction rather than 2 or more.
A transaction can have more than 2 splits. So you'll have your real
splits modeling the real world movement of funds, then you can have
additional pair(s) of splits that handle 'tax due' type of tracking.
Finally, there are Tax Features built in. Have you investigated them and
do they not address the 'tax due' tracking you are looking for? (you may
not need additional accounts and virtual tracking transactions, just run
a report)
Sorry I can't help more specifically. I don't use GnuCash for such
purposes. Plenty on this list do however. Someone is sure to be able to
offer a step by step at some point.
Regards,
Adrien
On 3/16/22 9:48 AM, David G. Pickett via gnucash-user wrote:
OK, not anything like an accountant, so my books have just asset, liability,
income, expense. Equity might be a better place for the IRA/401K, since it is
an asset with a varying value and an attached tax liability TBD. So, how
should I have set up such 100% pretax deferred income accounts to capture the
income when money is transferred out, preferably without two transactions (talk
about your double entry!)?
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