[GNC] Recommended Method of Entry for IRA Distributions

[Stan Brown]

On 2023-01-12 20:55, David T. via gnucash-user wrote:
> Two separate entries. In my mind, this would best be put in one transaction, to make the association obvious. 
> 
> CR - Assets: IRA $1000
> DB - Assets: Checking $1000
> DB - Income: Deferred Income $1000
> CR - Income: IRA Distribution $1000 *
> 
> * Income: IRA Distribution is used to document the distribution for tax purposes.

My only problem with that is that a distribution from an IRS is not
income, any more that the currency you receive when you cash a check is
income.

It's simply moving a portion of your assets from one bucket to another.
And it seems very strange to me that the one event should be recorded in
a four-split transaction.
 ​
Stan Brown
Tehachapi, CA, USA
https://BrownMath.com