Totally true! I agree.
--
Joaneee


"Ron Rosenfeld" wrote:

- quote -

On Sun, 24 Dec 2006 11:01:00 -0800, Joaneee <Joaneee[at]discussions.microsoft.comwrote:

- quote -

My "workaround" is to merely record the transfer in Money, and ignore the fact
that it represents taxable income. I enter the amount as taxable income on my
tax return.

My IRA account is a brokerage account, with multiple stock positions, as well
as a cash position. The withdrawals are from the cash position.

The only thing that is inaccurate in Money is the tax consequences of the
transfer. But I have no cumbersome Money entries.

It seems to me that handling IRA withdrawals that are transfers to a checking
account is something that can, and should, be handled simply -- even
automatically. Any withdrawal (or transfer to a non-Conventional IRA) from a
conventional IRA account could be treated as ordinary (IRA) income. The
program already knows what the account types are. And IRA withdrawals are not
a rare occurrence.
--ron

The workaround I use is cumbersome, does not involve trying to use a
transfer, but prodvides accurate records. I have a 457(b) account (much like
a 401(k) ) from which I am receiving monthly payments. It consists of
several publicly traded mutual funds. I have established a monthly paycheck
in Bills, to take care of the income and tax withholding. I also enter
separate "remove shares" transactions for each of the investments in the
457(b) corresponding to the shares that were sold to provide me with my
payment. (I get the info on shares sold from the fund mgmt co., online.) As
best I can tell, "remove shares" maintains the accuracy of the investment
performance figures, and does not produce cash in Money floating around with
nowhere to go. I use M05 btw.
--
Joaneee


"Ron Rosenfeld" wrote:

- quote -

On Sat, 23 Dec 2006 15:01:38 -0600, "Michael Gordon" <gordonm[at]denison.eduwrote:

- quote -

I'm not using any of them. I'm entering the transfer as a transfer, and making
the appropriate entries (manually) on my tax return.


--ron

I understand that, but was wondering which one you're using.

--
Michael Gordon


"Ron Rosenfeld" <ronrosenfeld[at]nospam.org> wrote in message
news:s6kqo2peplk5jont003f9hfqot67ptajh4[at]4ax.com...
- quote -

On Sat, 23 Dec 2006 08:18:42 -0600, "Michael Gordon" <gordonm[at]denison.eduwrote:

- quote -

I don't view any of the available methods as being desirable.
--ron

So, which method do you regard as least undesirable?

--
Michael Gordon


"Ron Rosenfeld" <ronrosenfeld[at]nospam.org> wrote in message
news:qmvoo2dvqbam5dmj4ic5qmng07th5eej0m[at]4ax.com...
- quote -

On Fri, 22 Dec 2006 18:46:46 -0600, "Michael Gordon" <gordonm[at]denison.eduwrote:

- quote -

I'm aware of that, but I don't like having unbalanced splits. I could set up a
bogus account, to balance this off, but that introduces other problems.

Since taxable IRA withdrawals have been part of financial planning for many
years, one would think the Money developers should have developed a
straighforward method of handling this.
--ron

It isn't new in M07, but you can split a transfer so it includes both the
transfer category and an income category. You'll need to ignore Money's
complaint that the split doesn't add up to the gross amount, but it works.

--
Michael Gordon


"Ron Rosenfeld" <ronrosenfeld[at]nospam.org> wrote in message
news:nu1lo2d8c2ruikvlajjjml4ilp2cs3elsh[at]4ax.com...
- quote -

On Thu, 21 Dec 2006 08:59:42 -0700, "Dick Watson"
<littlegreengecko[at]mind-enufalready-spring.com> wrote:

- quote -

Foolish me. I thought it was a program to help in money management, and
keeping financial records so as to make tax calculations simpler. <bg> .

I suppose the idea is to acquire, and then spend it on the services of the
advertisers within the program. I wonder how much more the advertisers have to
spend for ads that we cannot disable. <sigh

--ron

None I'm aware of. Money is 99.5% geared to acquiring, not spending down.

"Ron Rosenfeld" <ronrosenfeld[at]nospam.org> wrote in message
news:nu1lo2d8c2ruikvlajjjml4ilp2cs3elsh[at]4ax.com...
- quote -

There does not seem to be a good method of categorizing IRA transfers so as to
indicate taxable income. There are some workararounds in the MSKB, but all
have disadvantages. http://support.microsoft.com/kb/77796/en-us

Is there anything new in M2007 in this area?
--ron