Tax-Exempt dividends in a Fidelity Account

#3 12-24-2005, 11:29 PM

This only works if the security is a open-end mutual fund; if it's a
closed-end mutual fund and the investment bank insists on classifying it as
a stock (which it is) that only pays dividends - not interest -- then the
only solution is a clumsy "Other Income: Tax-Exempt Income" kludge.

--
Michael Gordon
MVP

"Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
news:vkv5q1t4e0hnh2epn2lt5rvgc0r252ghdh[at]4ax.com...
- quote -

> In microsoft.public.money, Levi wrote:
> > I use MSMoney 6.0 and have recently made an investment change that
> > includes
> > a tax-exempt MM fund.
> > > I am trying to figure out how to make these dividends show up as tax
> > exempt
> > in the tax section of Money. I have the tax exempt box checked in the
> > details section of the investment. Right now the dividends show up as
> > taxable.
> > > Does anyone have a solution? I was up on a chat session with Microsoft
> > yesterday and the tech finally just ended my session and went on to her
> > next
> > customer.
> If I remember correctly, the work-around is to change the
> transaction type from Dividend to Interest.

#2 12-17-2005, 09:16 PM

It's not a bug in Money 2006. It's been that way ever since I started using
Money, with the 2000 version. Even though I've reported this problem when beta
testing, I've not been able to convince the folks at MS that there is such a
thing as a tax-exempt dividend.

On Fri, 16 Dec 2005 14:08:06 -0600, "Levi" <txlevi[at]mymail.com> wrote:

- quote -

> You were right, that works around the bug in Money 2006.
> Merry Christmas,
> Levi
> "Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
> news:vkv5q1t4e0hnh2epn2lt5rvgc0r252ghdh[at]4ax.com...
> > In microsoft.public.money, Levi wrote:
> > > > I use MSMoney 6.0 and have recently made an investment change that
> > > includes
> > > a tax-exempt MM fund.
> > > > > I am trying to figure out how to make these dividends show up as tax
> > > exempt
> > > in the tax section of Money. I have the tax exempt box checked in the
> > > details section of the investment. Right now the dividends show up as
> > > taxable.
> > > > > Does anyone have a solution? I was up on a chat session with Microsoft
> > > yesterday and the tech finally just ended my session and went on to her
> > > next
> > > customer.
> > > If I remember correctly, the work-around is to change the
> > transaction type from Dividend to Interest.
>

#1 12-16-2005, 07:08 PM

You were right, that works around the bug in Money 2006.

Merry Christmas,
Levi

"Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
news:vkv5q1t4e0hnh2epn2lt5rvgc0r252ghdh[at]4ax.com...
- quote -

> In microsoft.public.money, Levi wrote:
> > I use MSMoney 6.0 and have recently made an investment change that
> > includes
> > a tax-exempt MM fund.
> > > I am trying to figure out how to make these dividends show up as tax
> > exempt
> > in the tax section of Money. I have the tax exempt box checked in the
> > details section of the investment. Right now the dividends show up as
> > taxable.
> > > Does anyone have a solution? I was up on a chat session with Microsoft
> > yesterday and the tech finally just ended my session and went on to her
> > next
> > customer.
> If I remember correctly, the work-around is to change the
> transaction type from Dividend to Interest.

12-16-2005, 04:52 PM

In microsoft.public.money, Levi wrote:

- quote -

> I use MSMoney 6.0 and have recently made an investment change that includes
> a tax-exempt MM fund.
> I am trying to figure out how to make these dividends show up as tax exempt
> in the tax section of Money. I have the tax exempt box checked in the
> details section of the investment. Right now the dividends show up as
> taxable.
> Does anyone have a solution? I was up on a chat session with Microsoft
> yesterday and the tech finally just ended my session and went on to her next
> customer.

If I remember correctly, the work-around is to change the
transaction type from Dividend to Interest.

#-1 12-16-2005, 04:21 PM

I use MSMoney 6.0 and have recently made an investment change that includes
a tax-exempt MM fund.

I am trying to figure out how to make these dividends show up as tax exempt
in the tax section of Money. I have the tax exempt box checked in the
details section of the investment. Right now the dividends show up as
taxable.

Does anyone have a solution? I was up on a chat session with Microsoft
yesterday and the tech finally just ended my session and went on to her next
customer.

Thanks and Merry Christmas to all.

Levi

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