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Old 08-10-2004, 03:28 PM
Suelynn
Guest
 
Posts: n/a
Default Re: Budget and Income/Spending

Thanks for the help!

Of course I am spending wisely...I have Money reminding me
how best to spend it....ie higher interest bills. LOL

- quote -

> -----Original Message-----
> In microsoft.public.money, Suelynn wrote:
> > OK this may seem complicated or I might be seeing the
> > forest and not the trees but this is the situation.
> > > Grandpa had land he put in my mother's name for me and

my
> > brother, it has been sold. Check was payable to my

Mother,
> > she paid the Capital gains out of the whole and gave the
> > rest to my brother and I,

> It is at that point that the events would touch what I

would expect
> that you might want to put as an event in your Money

file. It seems
> to me that you received a gift. GiftReceived seems like

the
> appropriate pre-existing category. While a gift is a form

of income,
> it is not taxable income in the US.
> > I then used some of the money to
> > pay off bills in full. How do I enter that in Money?

> Enter checks from your checking account with the

appropriate
> category, if you paid by check.
> > I do
> > not want to have it as income so when I do taxes it

shows
> > up,

> While a gift is a form of income, it is not taxable

income in the
> US. Money should not cause that to get put onto your tax
> information.
> > I tried to put it in an "dummy" account and
> > transfer/pay the bills from there but it really whacks

the
> > budget out of balance.
> > > Any suggestions proper or not?

> Be grateful, and spend wisely.
> .

 
Old 08-09-2004, 05:36 PM
Cal Learner-- MVP
Guest
 
Posts: n/a
Default Re: Budget and Income/Spending

In microsoft.public.money, Suelynn wrote:


- quote -

> OK this may seem complicated or I might be seeing the
> forest and not the trees but this is the situation.
> Grandpa had land he put in my mother's name for me and my
> brother, it has been sold. Check was payable to my Mother,
> she paid the Capital gains out of the whole and gave the
> rest to my brother and I,


It is at that point that the events would touch what I would expect
that you might want to put as an event in your Money file. It seems
to me that you received a gift. GiftReceived seems like the
appropriate pre-existing category. While a gift is a form of income,
it is not taxable income in the US.

- quote -

> I then used some of the money to
> pay off bills in full. How do I enter that in Money?


Enter checks from your checking account with the appropriate
category, if you paid by check.

- quote -

> I do
> not want to have it as income so when I do taxes it shows
> up,


While a gift is a form of income, it is not taxable income in the
US. Money should not cause that to get put onto your tax
information.


- quote -

> I tried to put it in an "dummy" account and
> transfer/pay the bills from there but it really whacks the
> budget out of balance.
> Any suggestions proper or not?


Be grateful, and spend wisely.

  #-1  
Old 08-09-2004, 05:15 PM
Suelynn
Guest
 
Posts: n/a
Default Budget and Income/Spending

OK this may seem complicated or I might be seeing the
forest and not the trees but this is the situation.

Grandpa had land he put in my mother's name for me and my
brother, it has been sold. Check was payable to my Mother,
she paid the Capital gains out of the whole and gave the
rest to my brother and I, I then used some of the money to
pay off bills in full. How do I enter that in Money? I do
not want to have it as income so when I do taxes it shows
up, I tried to put it in an "dummy" account and
transfer/pay the bills from there but it really whacks the
budget out of balance.

Any suggestions proper or not?
 

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budget, income or spending
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