[GNC] Misleading loss on money market

[Adam H. Kerman]

12:31pm -0000 06/07/26 David T. via gnucash-user <gnucash-user at gnucash.org>...:

>I am not an accountant. I only have retirement accounts from which I have 
>not yet taken distributions.

>I am sure that Michael or others will correct me, but the income account 
>transaction should most likely be balanced by the income account that 
>funded the IRA originally (such as Income:Wages:Deferred or 
>Income:Dividends:Untaxed).

No. Set up a new income account to receive the distribution. For tax 
purposes, the portion of wage or salary that is not deferred is earned 
income, subject to Social Security payroll taxes FICA & HI. At distribution, 
it's ordinary income and not subject to Social Security taxes.