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#3
12-27-2007, 02:05 PM
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 Re: Stock Donation Who is "you"? Cal and 99.99% of the rest of the posters here are just users like you. We each have our own wish lists. These lists are ignored by the Microsoft Money developers decade after decade. Probably just like yours. "JimB" <JimB[at]discussions.microsoft.com> wrote in message news:2916C464-EF06-40FD-AA10-3AEAB0651C20[at]microsoft.com... - quote - > I've had to do this work-around for a number of years. Can you look into > adding a feature to donate stock? |
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#2
12-27-2007, 01:22 AM
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| Re: Stock Donation I've had to do this work-around for a number of years. Can you look into adding a feature to donate stock? "Cal Learner-- MVP" wrote: - quote - > In microsoft.public.money, Dick Watson wrote: > > Can't think of a good way. Here are my quick--and very early in the > > morning--thoughts: > > > I think I'd Remove Shares and put a note in the transaction indicating what > > I was doing.You could also Sell the shares to the amount of cash (for > > Money's purposes) you are going to claim and then have a cash Contribution > > expense, but I think that would have more negative side effects on > > reporting. In any event, the amount that is deductible is calculated > > according to complex rules that Money doesn't know, so Money tax reporting > > won't be directly useful to get you to that right amount. > I think I like this one best using the Sell. That way you have the > charitable contribution. But then, if you use Money to generate > your schedule D info (a really nice thing that Money does), you must > remember to remove that one entry. There will not be a capital gains > tax effect assuming USA for 2007. This removal would be done either > by editing the TXF file, or by deleting the entry within TaxCut or > TurboTax after import. If you don't use TaxCut or TurboTax, remember > to cross that Sell off of the Money report you or your accountant > uses. > > > You could also Sell the shares with no Transfer Account for the cash or with > > a special account setup just for this purpose wherein you could enter a > > Charitable expense of the appropriate amount and any difference, say for > > shares held less than a year, you could just write off somehow. Again, Money > > reporting will only get you so far in these cases and you must use > > discretion and sense rather than raw data at tax time. > > > Others may shoot this down with better answers... > > > "HKS" <hk.sacks[at]ieee.org> wrote in message > > news:enBOYU7NIHA.2268[at]TK2MSFTNGP02.phx.gbl... > > > How do you record a charitable donation of stock? > |
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#1
12-06-2007, 04:12 PM
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| Re: Stock Donation In microsoft.public.money, Dick Watson wrote: - quote - > Can't think of a good way. Here are my quick--and very early in the
I think I like this one best using the Sell. That way you have the> morning--thoughts: > I think I'd Remove Shares and put a note in the transaction indicating what > I was doing.You could also Sell the shares to the amount of cash (for > Money's purposes) you are going to claim and then have a cash Contribution > expense, but I think that would have more negative side effects on > reporting. In any event, the amount that is deductible is calculated > according to complex rules that Money doesn't know, so Money tax reporting > won't be directly useful to get you to that right amount. charitable contribution. But then, if you use Money to generate your schedule D info (a really nice thing that Money does), you must remember to remove that one entry. There will not be a capital gains tax effect assuming USA for 2007. This removal would be done either by editing the TXF file, or by deleting the entry within TaxCut or TurboTax after import. If you don't use TaxCut or TurboTax, remember to cross that Sell off of the Money report you or your accountant uses. - quote - > You could also Sell the shares with no Transfer Account for the cash or with > a special account setup just for this purpose wherein you could enter a > Charitable expense of the appropriate amount and any difference, say for > shares held less than a year, you could just write off somehow. Again, Money > reporting will only get you so far in these cases and you must use > discretion and sense rather than raw data at tax time. > Others may shoot this down with better answers... > "HKS" <hk.sacks[at]ieee.org> wrote in message > news:enBOYU7NIHA.2268[at]TK2MSFTNGP02.phx.gbl... > > How do you record a charitable donation of stock? |
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12-06-2007, 12:05 PM
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| Re: Stock Donation Can't think of a good way. Here are my quick--and very early in the morning--thoughts: I think I'd Remove Shares and put a note in the transaction indicating what I was doing.You could also Sell the shares to the amount of cash (for Money's purposes) you are going to claim and then have a cash Contribution expense, but I think that would have more negative side effects on reporting. In any event, the amount that is deductible is calculated according to complex rules that Money doesn't know, so Money tax reporting won't be directly useful to get you to that right amount. You could also Sell the shares with no Transfer Account for the cash or with a special account setup just for this purpose wherein you could enter a Charitable expense of the appropriate amount and any difference, say for shares held less than a year, you could just write off somehow. Again, Money reporting will only get you so far in these cases and you must use discretion and sense rather than raw data at tax time. Others may shoot this down with better answers... "HKS" <hk.sacks[at]ieee.org> wrote in message news:enBOYU7NIHA.2268[at]TK2MSFTNGP02.phx.gbl... - quote - > How do you record a charitable donation of stock? |
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#-1
12-06-2007, 02:07 AM
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| Stock Donation How do you record a charitable donation of stock? |
| Tags |
| donation, stock |
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