Importing another account was much easier than I thought.

I now have a pretty good Schedule E in MS that will separate properties. I
started using the classification “properties� which I was not using before.
I also changed my expense categories to better align with the schedule E and
I include them on the tax reports. I then created an income/expense for all
properties and others that separate the properties. Since the Schedule E in
MS only does a total of all properties, I print my individual reports and
double check each category to make sure they total to the MS Schedule E.
Much easier than I was doing.

Thanks for the help!


"Cal Learner-- MVP" wrote:

- quote -

See Cal's answer, but the alternate general answer for the archives is not
in any way you might expect would be easy, useful, lossless, and work well.
For your one account case it will probably work reasonably well--no
transfers or Loan Accounts or any of a number of other possible problem
cases will be involved. Any account details will be lost. Starting balance
should come across.

"CJ" <CJ[at]discussions.microsoft.com> wrote in message
news:88A54E9C-B3B1-4C5B-87FC-B29D953D1286[at]microsoft.com...
- quote -

In microsoft.public.money, CJ wrote:

- quote -

From B, File-> Export that account as loose QIF. File-> Import into A.

Ok -Thanks

A little off topic but can MNY files be combined? A.mny has most of my
finances. B.mny has one bank account that I would like to move into A.mny. I
am using MS 2006 Deluxe. I am expecting a "No". Thanks.

"Chris Cowles" wrote:

- quote -

"CJ" <CJ[at]discussions.microsoft.com> wrote in message
news:8C545A87-A228-457B-9532-C22AA1E72C1E[at]microsoft.com...
- quote -

I no longer have rental property (sold my single garage apartment a
decade ago) but chose TaxCut back then because it was superior to
TurboTax in managing schedule E. That's probably changed.

I recommend against the multiple categories route. For reporting your
personal income and expenses, as opposed to the tax income and
expenses, a single category with multiple classifications seems more
elegant to me.

My experience with exporting tax data to a tax program isn't that
satisfying. I ended up massaging it all, anyway. Manual data entry
from succinct reports based on classifications would be little
different. Subsequent years' tax filings would inherit much of that
data, anyway, reducing data entry further.

My two cents.
--
Chris Cowles
Gainesville, FL

In microsoft.public.money, CJ wrote:

- quote -

Tax program will make schedule E if all of the info is in Money set
up right. With Money it can separate the schedule E info by
categories but not by classifications.

However it is probably going to be simpler to break the info into
reports and enter numbers by hand. The schedule E does not get a lot
of detail.

- quote -

I don't see where that *has* to occur. If you like the categories
now, you could duplicate the existing transactions that apply to
each property for each property.

Alternatively, yes, you could use fewer categories. Then you could
use the Memo field more.





- quote -

Yes, so a tax program won't do it. Thanks.

I am thinking that in order to get the Schedule E that I want, I have to
take a step back and decide if a really want to change so many catergories
and payees. The changing would not be super hard, but I would be losing a
level of detail that I currently have.

Maybe I just keep exporting individual property reports in Excel and then
start crunching.

"Cal Learner-- MVP" wrote:

- quote -

In microsoft.public.money, CJ wrote:

- quote -

I would make an extra copy of your file in case you do not like the
result. Then go to Tools-> FindAndReplace and choose the Advanced
Search. After you do the Find portion, it will present a Replace
portion. There you can make changes to the Payee or Category, etc
for selected transactions.
- quote -

No.

- quote -

You can print reports for the categories for each Classification for
you or your accountant to use.

I played with the classification and that works perfect. Three properties
under the classification “Properties� – and then its easy to split properties
(Portland) out in the reports. The Schedule E (as you know) only gives a
grand total.

I assume that it is difficult or changes to many categories, to make a
report that has all the Schedule E items. Supplies on the Schedule E equal
about 20 categories/subs that I already have. I need to dump things like,
lumber, windows, parts, into “Supplies�. Wish I could group them somehow.

So if I buy TaxCut, it will break out my export file by classification???
It would be worth $20 to do this right and then print it for my accountant.
I am trying to avoid buying another program that might come with its on set
of problems. I can’t even print the Schedule E from MS w/o a program that
handles txf files.

Thanks for the tips! I have made some nice improvements to my process. If
I can break out the properties, I can more than a save few hours of crunching.


"Chris Cowles" wrote:

- quote -

"CJ" <CJ[at]discussions.microsoft.com> wrote in message
news:F220FEBA-1FF7-41BB-8289-D6E70ED13EEB[at]microsoft.com...
- quote -

Form copy is how you would split it among properties. Unfortunately
you can only associate taxes and form copies with categories, not
classifications. That's inconsistent with what I would interpret as
best practice for use of classification. I just played with it and a
default name for a classification is 'Properties'. That clearly is
intended to be used in that manner.

Oh, well.
--
Chris Cowles
Gainesville, FL

In microsoft.public.money, CJ wrote:

- quote -

If you don't use TaxCut or TurboTax, I would consider the method of
adding a Classification called maybe Property or Project or some
such. Then print reports customized for each for you and/or your
accountant to separately total up the Lumber or Supplies.
But yes, it is possible to have things to split up at the tax
program if you use separate categories. Maybe somebody who does this
will post the experience.

I will give this a try shortly and let you know.

I don’t have a short cut, but I already did select a form (Schedule E) for a
Category (Lumber) and selected the tax line (Supplies). I also just put a 1
in the Form Copy section. Since I have two Properties going to the Lumber
Category, I want to Schedule E forms. I not sure that I can have more than
one Form Copy for a category.

Also, I do not use a tax program. Are you seeing that I need and the
properties would split once the data hits the tax program??


"Cal Learner-- MVP" wrote:

- quote -

In microsoft.public.money, CJ wrote:

- quote -

I think you need separate categories if you are having Money send
the data via TXF file.

I have not done this myself, but I think you would add the TaxLines
shortcut at the top of your Money window if you have not already
done so. Then TaxLines-> GoToTaxCategoryManager. For each Schedule E
category, you should be able to not only select a Tax Form and Line,
but also a Form Copy. Each FormCopy would represent a property. I
would like to think that the tax program would end up just putting
the info for the separate properties on different Schedule E lines.

Instead, if you are handling the numbers yourself, you could set up
a Classification to distinguish the properties, and could generate
reports for the two different properties. You could have single
categories for each rental expense and income in that case.

I don't do this myself, and I did not experiment to see what would
actually happen. Would you post back what you learn? When you
experiment, you will want to either work with a copy of your Money
file with a different name and/or be ready to undo with
File-> Restore.


- quote -

I don't know what code 1, 2, etc are. Are you seeing that in your
tax program? Maybe it relates to which property/line of schedule E
this item corresponds to.

- quote -

How do you separate two properties on the Schedule E??

I have 2006 Deluxe and I have two properties set up but they combine on my
Schedule E. I also don't understand what the code 1, 2, etc is. I just
setup the tax lines last night but the properties have been set up for a
while and I think that theyare correct.

"Cal Learner-- MVP" wrote:

- quote -

You can do this same tracking with Money 2007 Deluxe. I am not sure what
you gain by using the Home & Business version. I have some rental property
and use the Deluxe version.

--

Neil


"Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
news:voga93lmal73gqns1s00mmfkqmjbu4h38e[at]4ax.com...
- quote -

In microsoft.public.money, Randolph wrote:

- quote -

You can make your own categories.

See
Banking-> AccountTools-> Accounts&Bills-> Categories&Payees-> SetUpTaxCatagories
or Categories-> SetUpTaxCatagories if you have set up the Shortcut.

Note what categories go to what form and what line for the pre-made
categories.

For each category you want to change, tick IncludeOnTaxReports,
specify Schedule E, copy 1, 2 etc, and which line.

Each property can have its own schedule E. I don't know if the tax
programs merge those back to only use a column for each property.

I am considering MS Money Home and Business edition to track rental income
from a couple of units I own. The problem I'm having is that no where in the
literature does it talk about traking rental income and expenses to Schedule
E, only Schedule C.

Seems like a dumb thing, but will the software allow me to track Schedule E
tax items? Obviously Quickbooks and even Quicken do, but I have reasons why
I hate Intuit even more than Microsoft.