Look again, Joe, and get back to us with what you find.

--
Michael Gordon


"Joe Guidera" <jguidera-remove[at]msn.com> wrote in message
news:C1F99DBB-83A6-4718-ABF8-5E140693E12B[at]microsoft.com...
- quote -

Oops. Hmm, thinking I've done this in the past by transferring to a cash
clearing account then move it from there (which will allow you to properly
categorize it I thought - it's been a while).

"Michael Gordon" <gordonm[at]denison.edu> wrote in message
news:uAoE0r4XHHA.4440[at]TK2MSFTNGP03.phx.gbl...
- quote -

The transfer certainly won't show as income (though we've discussed some
kludges here) and the SELL will only show as income to the extent it was a
profit.

--
Michael Gordon


"Joe Guidera" <jguidera-remove[at]msn.com> wrote in message
news:4F023336-26D6-499C-953B-5405F619496A[at]microsoft.com...
- quote -

Technically when you're withdrawing from your IRA or 401K you are performing
a SELL transaction (which places in the cash resulting from the sale in the
associated cash account) and then a transfer into a taxable account. I
believe that will show it as income.

Joe

"Kevin M" <KevinM[at]discussions.microsoft.com> wrote in message
news:5E1B7B35-53DA-4E39-8AC6-2F950BA0C6B8[at]microsoft.com...
- quote -

I'm betting BillG doesn't have to worry about retirement accounting and
doesn't use Money to do it in any regard.

"Kevin M" <KevinM[at]discussions.microsoft.com> wrote in message
news:86E16810-702F-48BC-9266-43FD31501A4F[at]microsoft.com...
- quote -

Well I'll bet you that close to 50% of Money users are baby boomers or
beyond, and that they'll soon be drawing on their retirement funds. I'll also
bet that it gets fixed by the time that Bill is 59.5.

Thanks again.
--
Kevin M


"Dick Watson" wrote:

- quote -

In order: These posts are frequently read by someone at Microsoft.
Occasionally they comment for very well known issues or where they think
they can help, but usually in only a not official basis. 3) Rarely and only
for a) high impact (crashes app and/or destroys data) / pervasive (seen by,
say, > 50% of users) problems and b) only if they think what they are doing
advances their business case objective for the product.

"Kevin M" <KevinM[at]discussions.microsoft.com> wrote in message
news:6D185195-FD63-40FA-8963-4F370537B3EF[at]microsoft.com...
- quote -

Here is the workaround that I am trying:

1. Transfer funds from my 401k (a non-budget account) to checking (a budget
account). Thiis is a monthly "bill" for cash flow and budget purposes.
2. Enter the transfered 401k amounts in the Tax Estimator as Miscellaneous
Income, Income Not Entered in Money. Added one entry per month.

So far, so good.

Does Microsoft ever read these posts? Do they ever comment? Do they ever
take action?

Thanks for your help.
--
Kevin M


"Dick Watson" wrote:

- quote -

On Feb 21, 1:01?pm, "Dick Watson" <littlegreenge...[at]mind-enufalready-
spring.com> wrote:
- quote -

I've been retired for five years now and have continued to use Money
to report my social security, small pension, and IRA as well as
taxable accounts. Even for tax estimates. The KEY, as Dick says, is
the ability to workaround the issues. Take social security money I and
my wife receive. Is it taxable? It could be anywhere from 0% to 85%
taxable. What I do on the tax estimate section is create an adjustment
to income which reduces my "taxable" income to the level that I expect
to be taxed. Of course that depends on other factors including
decisions I may make to move IRA money into cash if my deductions can
support it in a given year. And when I'm 70+ I'll have to do other
things in Money to support my financial activities. I'm able to do all
this because I have a financial background and can adapt Money to my
specific needs. Most people can't and so it would be nice if Money
developed a program for retirees. Unfortunately, in this world where
MONEY counts, I doubt that will happen. Steve

I disagree that retirement income can't be reflected in cash flow or
budgets. It can. As to estimated taxes, I'd anticipate either using
workarounds as noted previously or using Money + Alternate Methods (read:
Excel).

Don't read me wrong: Money broadest single omission is complete lack of
support for post-savings-phase life. All I'm saying is that its other
functions are not useless because it can't easily recognize the tax
implications of distributions and withdrawals from tax-deferred accounts.

Perhaps someday a magazine reviewer will write a review of the products
after they retire--you know, to generate some supplemental income--and
notice/note this omission. Then Quicken will add some gratuitous minor
feature to deal with it. The same reviewer will be short some bucks when
that version of Q comes out and will write a review praising the new
features and noting Money can't compete. Then Money will add something
better than Q has. Until then, we'll probably just have to be content with
Money adding support for scanning in receipts.

"Kevin M" <KevinM[at]discussions.microsoft.com> wrote in message
news:1414D03D-43B2-455D-A9E3-05D0BA3BB157[at]microsoft.com...
- quote -

"Kevin M" <KevinM[at]discussions.microsoft.com> wrote in message
news:1414D03D-43B2-455D-A9E3-05D0BA3BB157[at]microsoft.com...
- quote -

After reading this thread and the other referenced thread, I agree, this is
a MAJOR flaw in Money.

Bruce.

Since Retirement Income cannot be properly reflected in MS Money's Budgets,
Cash Flow or Estimated Taxes, what good is it? It's a pretty expensive check
register.
--
Kevin M


"Dick Watson" wrote:

- quote -

I agree with everything you write but the warning. Money is no less suitable
for a retiree--you just have to know its limitations and have a strategy to
deal with them.

"Kevin M" <KevinM[at]discussions.microsoft.com> wrote in message
news:A505F0B5-DD61-4465-A66A-BF47C6D544F8[at]microsoft.com...
- quote -

Thanks for the timely response and for pointing me at the relevant
discussion. Unfortunatly, Money does not know how to handle retirement
disbursements. The workarounds are kludges that negate the use of Budgets and
Estimated Taxes. Retirees should be forewarned; don't use MS Money.
--
Kevin M


"Dick Watson" wrote:

- quote -

An increasingly FAQ that isn't in anybody's FAQ just yet. I've got it in my
To Do list though.

This was in a thread just last week. See "IRA Income" dated 2/15/2007 0412Z
(adjust for your local time).

"Kevin M" <KevinM[at]discussions.microsoft.com> wrote in message
news:5E1B7B35-53DA-4E39-8AC6-2F950BA0C6B8[at]microsoft.com...
- quote -

When I withdraw funds from my IRA/401k, I would like to transfer the amount
to another account. The transfer should be categorized as taxable income; but
there is no way to assign a category to a transfer. Instead, if I "pay"
myself from the 401k, the amount is both an expense to the 401k account and
income to the new account; the income and expense offset each other. How
should I record a retirement distribution?
--
Kevin M