[GNC] Recommended Method of Entry for IRA Distributions

[Stan Brown]

How would you do it in a pen-and-ink ledger? The answer is the same for
GnuCash.

So many people seem to be under the impression that GnuCash does
accounting ion its own special way. It's much more helpful, in my
opinion, to think of GnuCash as an automated version of the pen-and-ink
ledger methods that are taught in basic bookkeeping courses (or used to be).

Stan Brown
Tehachapi, CA, USA
https://BrownMath.com

On 2023-01-11 14:35, Milton Stern wrote:
> Hi,
> 
> What would be the recommended method of Entry for an IRA Distribution?
> 
> The Distribution is for a personal IRA (not Roth).
> The IRA is of Mutual Funds.
> 
> The Mutual Fund is in Assets > Investments - Retirement > Brokerage > etc.
>> etc.
> 
> Since this is taxable income, I need to track withholding (Federal) + Net
> Distribution to a Checking Account (Assets > Current Assets).
> No Commission fees are applicable, but it would be nice to know where/how
> they would be tracked.