|
#4
| |||
| |||
| You can reallocate unspent budget, but I don't think there is any way to reallocate an actual. I get to the same place: this is a completely explainable variance. The goal of budget planner isn't to hit $0--it's to help you see what it takes to do it or why you might not have. "Suelynn" <anonymous[at]discussions.microsoft.com> wrote in message news:390301c47ef0$aec20c20$a601280a[at]phx.gbl... - quote - > OK if I enter it as a one time income item for the month > we received it, it made that months budget look great but > is there any way to transfer some of it to the following > month when the bill is entered as paid instead of being > 20,000 over budget??? |
|
#3
| |||
| |||
| OK if I enter it as a one time income item for the month we received it, it made that months budget look great but is there any way to transfer some of it to the following month when the bill is entered as paid instead of being 20,000 over budget??? - quote - > -----Original Message----- > I think you do want to use some income category--you can setup one that does > not report on tax reports. It is income. It will make your budget look GREAT > in one month. (Or, you can use a category that is excluded from the budget > and then the income won't show in the budget at all.) At any rate, things > like this that you can explain and understand and react to are exactly the > kinds of out-of-normal phenomena that you want BP to tell you about. For > instance, in this case, you don't want to start assuming that this is income > you can regularly count on. > "Suelynn" <anonymous[at]discussions.microsoft.com> wrote in message > news:2d4901c47e36$17a6fd10$a501280a[at]phx.gbl... > > Help! This is really confusing to me-nothing I do seems to > > make sense in the reports or budget. Here's the situation.. > > > Grandpa put land in my mothers name for us 2 kids. She > > sold the land, mother took out capital gains and gave us > > our shares. i used that money to pay off some bill. No > > matter which way I enter it in Money, things don't make > > sense. > > > If I enter it as one time income, it shows up as income > > for taxes, which I don't want. When I put it in a "dummy" > > account and pay bills from there by transferring money it > > throws off my budget. > > > Any ideas???? > > > . |
|
#2
| |||
| |||
| You can tell Money to ignore certain transactions when it estimates taxes. I think when you go to the "advanced" view in Tax Estimator, there's an option to leave out certain incomes. I would classify it as "Other Income: Gifts Received" or make up your own category and then take it out of the tax estimation scheme... BTW Depending on the size of the windfall, be sure to document taxes paid on the sale carefully. I think the maximum legal limit for a cash gift from one individual to another is $11,000/year. Anything above this must be declared (Form 709 I believe) and ?the giver? is subject to taxation. Of course, if you meant your mother took this tax out before she passed the money along to you, I believe you're fine, though it might be wise to drop the IRS a letter detailing the transaction and that the taxes have been duly paid/reported (there's a special form for this kind of "note" too, but I can't remember it). "Suelynn" <anonymous[at]discussions.microsoft.com> wrote in message news:2d4901c47e36$17a6fd10$a501280a[at]phx.gbl... - quote - > Help! This is really confusing to me-nothing I do seems to > make sense in the reports or budget. Here's the situation.. > Grandpa put land in my mothers name for us 2 kids. She > sold the land, mother took out capital gains and gave us > our shares. i used that money to pay off some bill. No > matter which way I enter it in Money, things don't make > sense. > If I enter it as one time income, it shows up as income > for taxes, which I don't want. When I put it in a "dummy" > account and pay bills from there by transferring money it > throws off my budget. > Any ideas???? |
|
#1
| |||
| |||
| I think you do want to use some income category--you can setup one that does not report on tax reports. It is income. It will make your budget look GREAT in one month. (Or, you can use a category that is excluded from the budget and then the income won't show in the budget at all.) At any rate, things like this that you can explain and understand and react to are exactly the kinds of out-of-normal phenomena that you want BP to tell you about. For instance, in this case, you don't want to start assuming that this is income you can regularly count on. "Suelynn" <anonymous[at]discussions.microsoft.com> wrote in message news:2d4901c47e36$17a6fd10$a501280a[at]phx.gbl... - quote - > Help! This is really confusing to me-nothing I do seems to > make sense in the reports or budget. Here's the situation.. > Grandpa put land in my mothers name for us 2 kids. She > sold the land, mother took out capital gains and gave us > our shares. i used that money to pay off some bill. No > matter which way I enter it in Money, things don't make > sense. > If I enter it as one time income, it shows up as income > for taxes, which I don't want. When I put it in a "dummy" > account and pay bills from there by transferring money it > throws off my budget. > Any ideas???? |
|
#-1
| |||
| |||
| Help! This is really confusing to me-nothing I do seems to make sense in the reports or budget. Here's the situation.. Grandpa put land in my mothers name for us 2 kids. She sold the land, mother took out capital gains and gave us our shares. i used that money to pay off some bill. No matter which way I enter it in Money, things don't make sense. If I enter it as one time income, it shows up as income for taxes, which I don't want. When I put it in a "dummy" account and pay bills from there by transferring money it throws off my budget. Any ideas???? |
| Tags |
| cash, large, put, windfall |
Similar Threads | ||||
| Thread | Forum | Replies | Last Post | |
| Large Numbers for Balances David M.: I just started using MONEY 2003. After I set up three accounts using the set up assistant and entered some transactions I tried to balance one of... | Microsoft Money | 1 | 10-27-2003 03:20 AM | |
| Re: file is getting too large Cindy Conover: How big to you consider too big? Have you made your file smaller under options? I have info starting in 96 and my file is about 2 or 3 floppies... | Microsoft Money | 5 | 08-23-2003 03:17 AM | |
| MS Money 2004 & large Neg Numbers ItsDouglas: I installed the Trial this morning and loaded a converted Quicken 2003 file. It worked fine for a bit. Then all of a sudden, my home screen and... | Microsoft Money | 3 | 08-04-2003 07:13 PM | |
| unusually large amount not accepted Andy Franklin: I ran into what appear to be a bug in Money 2002. I'm wondering if anyone else has seen this problem. I entered a new recurring bill (under Biils &... | Microsoft Money | 2 | 07-16-2003 01:14 PM | |
| Thread Tools | |
| Display Modes | |
| |