This works!!!

"Cal Learner-- MVP" <via_newsgroup[at]please.tnx> wrote in message
news:3js5v31ke7tooaofrk1287h3p5vl9r8go5[at]4ax.com...
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I should mention this is Money Small business 2006

"Cal Learner-- MVP" wrote:

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In microsoft.public.money, Brook wrote:

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What I would do is to have Money produce a TXF file that TaxCut
should be able to import rather than having Money try to access
TaxCut trying to access the Money file.

Microsoft Money is very good at producing the information for
schedule D, if you have been downloading or entering your Buys and
Sells. That is really nice.

While Microsoft Money can produce entries for other things like
dividends, interest, W-2, etc, few people keep the data perfectly.
Some of the items recorded as dividends may be return of capital or
other special cases. Since you will be sent 1099s and perhaps
1098s for these, it will usually be best IMO to use the 1099 data
where it is provided.

Preparing the Schedule D is one of the best thing the Money program
does for me. Both TaxCut and TurboTax can import the TXF (Tax
eXportFiles) files that Money produces.

If I were preparing a schedule C, the data that Money can send to
the tax program would be very useful. You do not get 1099s for
that information, for the most part. But I don't do that now. If
you itemize, the schedule A information should be useful.


There can be other things that Money can track and provide the
information for your tax return

So how do I proceed ? In Money 2006,
Taxes-> TaxTools-> ExportToTaxSoftware

Set the ReviewTaxesFor drop-down to Completed2007TaxYear.
Continue.

Select the items that you want Money to send to the tax program,
and de-select those things that you will instead pull off of the
1099s. This may be Schedule A, Schedule C, and both long- and
short-term capital gains, depending on your needs.

In Money 2005 and 2006, if you want to print a tax report for
yourself or your tax preparer, do not click Continue at this point.
Instead click File-> Print to print the selected tax information.
This may be in two sections: the forms, line numbers and amounts
for most of the selected items, and then the information for
Schedule D.


To pass information to TaxCut which is installed on your computer,
click Continue.

I recommend that you not use the option for TaxCut,
but instead choose UseTaxSoftware, and "Export your tax information
as a data file you can use with any tax software program". This
will produce a .txf file. I suggest you do not use the FileByHand,
UseTurboTax, or UseACPA choices in Money 2006. Start your
tax program. Make a copy of your tax file under another name.
Then File-> Import the .txf file in TaxCut. At least I hope that is
an option available to you. If you see that you selected the
wrong information for export/import go back to Money and re-select
the items. Then go back to the copy of the tax program that you
had not imported into yet, save another copy of that and
File-> Import the revised .txf file. Keep copies at each step. That
is how you undo.









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Taxcut is saying I need a money update. Money started the export but taxcut
could not complete it. I have Windows XP Pro.

"Cal Learner-- MVP" wrote:

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See three questions:

In microsoft.public.money, Brook wrote:

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The TaxCut program says you need a Microsoft Money update?

Money is not saying that Money needs an update?



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Do you use XP or Vista?



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Cal, you are a busy person. Thanks again for your help. I have run into the
problem when I have taxcut request the update and when I have Money export
the information. It is actually taxcut that says I need the update, but
taxcut no service says it is a Money update and not thier problem since they
do not support money.

BTW, it ment taxcut in my original post, not turbotax.

"Cal Learner-- MVP" wrote:

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In microsoft.public.money, Brook wrote:

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"it" = Money?

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Vista or XP?

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I am trying to import from MS MONEY 2006 into turbotax and it says I need an
update. TurboTax technical support is absolutely no help even though their
software links up to a URL on their site (that no longer exists).

I've run windows update and I'm not finding any updates. I've tried to
update MS Money from within money but I've found no link to do so (only to
update accounts) What update do I need and how do I update?

Thanks