<adamjw82[at]gmail.com> wrote in message
news:e3b1b21c-d4ea-4c12-9ee5-acff80870a6b[at]u10g2000prn.googlegroups.com...
- quote -


Another right answer is to create an account (not category) called
'Taxes/Refunds due". Enter a transaction in it, dated 12/31/TXYR to
increase or decrease the balance appropriately, categorized as FIT. If
you're due a refund, increase the account value and decrease FIT for
that tax year.

When you get your refund, deposit in checking with the source being
"Taxes/Refunds due". The result should be that account balance is
zero. The transaction is income neutral.
--
Chris Cowles
Gainesville, FL

There is no one right answer. Personally, I have expense categories for ___
Taxes - Previous Year (for Federal and State) and use those. I think those
are in some Taxes category group. But category groups are of such limited
utility that I probably didn't worry it.

<adamjw82[at]gmail.com> wrote in message
news:e3b1b21c-d4ea-4c12-9ee5-acff80870a6b[at]u10g2000prn.googlegroups.com...
- quote -

MS Money 2008 Plus Premium.

I'm trying to decide what category/category group to place a Federal
Tax Refund in.

I see a Category Group under INCOME titled "State/Local Tax Refund".
There is also a Category Group under EXPENSE titled "Federal Taxes".

I'm not sure of the implications behind this decision.

Any thoughts?