Cool! Thanks for the feedback. Check back here with more questions in the
future. Have happy holidays. Stay warm.

"ATHiker95" <mholmes[at]gmail.com> wrote in message
news:1134258358.114259.312640[at]o13g2000cwo.googlegroups.com...
- quote -

Bingo! That explanation finally did the trick in the ol' bean.
Thank you! It's fixed correctly now.

Sincerely appreciate all your time and effort in making sure I got it
straight.

Mark

Follow me here. There is no one right way. I think there is a better and
simpler and more straightforward way. You don't need to use a paycheck. It
just confuses things. And, depending on how you are doing this, it sound
like it might end up creating an extra amount in the contributions account.
(-> means do something, == describes the results of what you have done to
this point)

-> You sold $1,000 worth of investments in the investment account and
recognized this with the $1,000 transfer from the sell transaction
transferred to the contributions account.

==The investment account is down some shares.

==The contributions account is up $1,000.

-> You created a $1,000 withdrawal transaction in the contributions account.
(I wrote: "Start a withdrawal for the total amount of the previous sell.")
(There's your "gross amount". It's just implicit. There's nothing to
categorize. Quite unlike your wages on a paycheck, the $1,000 is **not**
Income, Gross or otherwise. It's just money you had in one form and
converted to another. And not even in this transaction. You did that in the
previous investment sell transaction. In this transaction you are just
moving some of the sell proceeds and allocating the rest to taxes.) That
transaction has three components in its splits (I wrote: "Click on Split"):

- a $700 transfer to checking (I wrote: "On the first line of the split,
enter the Transfer:Checking for the amount of the net proceeds"),
- a $250 Taxes:Federal Income Tax expense (I wrote: "On the next line, enter
the Taxes:Federal Income Taxes"),
- and a $50 Taxes:State Income Tax expense (I wrote: "On the next line,
enter the Taxes:State Income Taxes").

==The three split elements add up to, you guessed it, the $1,000 proceeds
and the $1,000 total withdrawal from the contributions account. Nothing is
unassigned.

==The contributions account ends up back at $0--or whatever it was before
you did the sell.

==The checking account ends up +$700.

==You have recognized $250 of Taxes:Federal Income Tax expense. Tax
Estimator, et al. will recognize this just like it came from a paycheck.

==You have recognized $50 of Taxes:State Income Tax expense. Tax Estimator,
et al. will recognize this just like it came from a paycheck.

==Life is good.

(NB: The prime reason Paycheck exists in Money is to enable a mechanism for
Money to figure out the difference between what you think of as your real
Gross and what your employer and the IRS think of as your W-2 gross without
you having to be smart enough to enter the data in a way that recognizes
this difference. It does this for Tax Estimator purposes by subtracting the
total of whatever is on the Before Taxes tab of a given paycheck from the
category that was used in the first line of the Wages tab. Thus, a Paycheck
with $500 of Wages:Salary on the Wages tab and a total of $100 of whatever
on the Before Taxes tab is treated as a Wages:Salary amount of $400 by Tax
Estimator. Everywhere else in Money, it's $500 of Wages:Salary. Not in Tax
Estimator. (And maybe not in the Tax exports/reports. Can't say for sure
from sitting here without a copy of Money.))

"ATHiker95" <mholmes[at]gmail.com> wrote in message
news:1134230431.011182.216710[at]g43g2000cwa.googlegroups.com...
- quote -

You mention entering the Net amount and then entering the taxes.
Somewhere you need to be able to enter the gross amount, which the
paycheck form gives you. If I use your method, then I enter the net
amount and then when I enter taxes, it just totals the net + the taxes
and won't zero out (i.e., it leaves unassigned amounts). Somewhere one
has to be able to enter the gross amount and then deduct from that the
taxes - the payroll way of doing that offers that capability, but if
there is a different way or I'm missing something, I'm certainly open
to new suggestions. I just want to do it correctly.

Thanks again!
Mark


Dick Watson wrote:
- quote -

Sorry. I never use transaction forms. Too much like training wheels on a
pair of skis. Entirely because of cases like this where they make it more
difficult than it needs to be to enter a transaction.

Start a withdrawal for the total amount of the previous sell.

Click on Split.

On the first line of the split, enter the Transfer:Checking for the amount
of the net proceeeds. If Money won't auto-complete Transfer, type all of the
characters of the word t-r-a-n-s-f-e-r.

On the next line, enter the Taxes:Federal Income Taxes.

On the next line, enter the Taxes:State Income Taxes.

Etc.

Does that work?

"ATHiker95" <mholmes[at]gmail.com> wrote in message
news:1134163422.226550.16150[at]o13g2000cwo.googlegroups.com...
- quote -

You are talking about being in the checking account to make this
deposit. I was still in the Contributions side of the IRA.

I finally figured it out after reading the various explanations above.
While in Checking, I selected Deposit and then Selected Paycheck,
clicked on details and then under the Wages tab, I selected Transfer
and IRA Contributions Acct as the acct to be transferred from and
entered the gross amount of the distribution. That was the only way to
get the money to move from the IRA contributions line to the checking
account. Then I clicked on Taxes and filled in the taxable amounts and
was left with my actual deposit.

This seems to work and I appreciate all the info above which led me to
getting to this point. I tried all kinds of methods, but that is the
only one that seems to work for me.

Thanks again!
Mark

In microsoft.public.money, ATHiker95 wrote:

- quote -

Rather than using the "Common Transactions", start with selecting
Category as Split (top of list) or Paycheck (near bottom of list) as
desired.

Use the category command as part of the split within deposit. If you go all
the way to the end, you'll see transfer options for each cash account.
Control direction by plus/minus values.
Nominally you start with a deposit transaction since you want the money put
into your checking account. Use the Tax category and transfer categories to
move the funds in and out in the split details.
You may have to mess with plus/minus to get the funds moving in right
direction, but it'll work.
I suggested using Paycheck because it automatically gives you the options.
As suggested by others, manually configuring split works too.

"ATHiker95" <mholmes[at]gmail.com> wrote in message
news:1134163422.226550.16150[at]o13g2000cwo.googlegroups.com...
- quote -

I'm using 2003 Deluxe. I know how to get to the Contributions acct. I
already sold into that account. Now the $2000 is sitting in the
Contributions acct. Now you say "you can put in a transaction in the
contributions account along the lines previously described". I assume
that means I can put in some kind of split transaction. This is where I
am getting confused. I have 3 tabs - withdrawal (which gives me a pay
to line where only expense accounts are shown, not my checking
account), deposit (which would mean I was making a further deposit into
Contributions - not what I want, and Transfer which I would think I
would choose since I can select my checking account in the drop down
To: box. But I don't see anyway in that section to record a split
transaction and deduct taxes.

So, I'm missing something or misunderstanding something.

Thanks for your patience.
Mark

Click on the Cash Transactions link located to the left side. This is how
you get to the Contributions Account. If you sell, from the investment
account--the account register you were in--and transfer to the Contributions
account, then you can put in a transaction in the contributions account
along the lines previously described.

I'm assuming M02 to M06 is what you are using and, if M05 or M06, Advanced
Register mode. You may have said earlier in the thread. I do not recall.

"ATHiker95" <mholmes[at]gmail.com> wrote in message
news:1134155162.740941.240430[at]g49g2000cwa.googlegroups.com...
- quote -

Dick,
I'm not seeing an option to "split transaction". I have Sell, Buy,
Interest,Dividend,Other Income, Other Expense,Add and Remove Shares,
Transfer In and Transfer Out - don't see anything that says "Split
Transaction". I must be a bit dim.

Mark

Enter a split transaction in the contributions cash account, total amount is
that of the sell, split elements:

category: Taxes:Federal Income Tax, memo: withholding, $[fed withholding
amount]
category: Taxes:State Income Tax, memo: withholding, $[state withholding
amount]
category: Transfer:Checking, memo: proceeds after withholding, $[what's
left]

"ATHiker95" <mholmes[at]gmail.com> wrote in message
news:1134102477.799018.84680[at]o13g2000cwo.googlegroups.com...
- quote -

There is a contributions (cash account) set up as part of my IRA and I
did sell it off into there. How do I "expense some withholding" ? Not
sure how to go about doing that.

Thanks,
Mark

I'm not sure the paycheck buys you anything in this case. The income will
get accounted for without benefit of a Wages tab entry I'm suspecting if the
IRA account was setup correctly. I could be wrong and haven't tested this
case. It's just citing an experientially based expectation of how Money will
treat this.

"Michael J. Blazin" <mjblazin[at]swbell.net> wrote in message
news:zP6mf.31682$q%.2311[at]newssvr12.news.prodigy.com...
- quote -

Set up a Pay check into your checking account, but make the salary line 0.00
(0.01 if can't take 0 and then use a 0.01 reversal in after tax tab),
include a transfer for the full amount of withdrawal from the IRA, and put
the taxes in the tax tab.
I do something similar with pre-tax commuter/health savings accounts
(transfer from contributed amounts) that we receive reimbursement via pay
checks. I also have a salary, but it works the same way.

"ATHiker95" <mholmes[at]gmail.com> wrote in message
news:1134059732.024431.248330[at]g47g2000cwa.googlegroups.com...
- quote -

If you are going straight from the investment to checking--checking is the
transfer account in the sell--there is no way to split it. Indeed, there is
no way to split an Investment Sell. If an intermediate Investment Cash
Account (ICA) is involved--and this might be a good reason to involve
one--do the sell to the ICA, then expense some withholding in the ICA and
transfer the remainder to checking.

"ATHiker95" <mholmes[at]gmail.com> wrote in message
news:1134059732.024431.248330[at]g47g2000cwa.googlegroups.com...
- quote -

I started getting distributions from an IRA that flow into my checking
account. The bank holding the IRA takes out fed taxes and state taxes
before depositing the amount into my checking account. In my MS Money
checkbook, how do I show the taxes coming out? If I select Transfer to
move the money into my checking account, I can see the IRA account it
should be coming from, but then the full amount would flow into my
checking account and I don't want that. If I select deposit I am faced
with the From field - it only provides names, not accounts the money
would be coming from.

Not sure if any of this makes sense, but can you tell me how I would
get the amount into my checking while showing the deductions for
federal and state taxes?

Thanks,
Mark