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Posted by JM on September 9, 2008, 9:18 pm
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> John,
>
> That did it... I changed it to:
>
> Category
> Line 1. [Company A] =A0 =A0 =A0 =A0 =A0+$250 (Set as transfer from accoun=
t [Company A]
> tax line item "Out:1099-Total IRA gross distrib.")
> Line 2. [Checking Account] -$250
> Line 3. Annuity Taxable =A0 =A0 +$150 (Set for tax line item 1099-R:Total=
IRA
> taxable distrib.)
> Line 4. Annuity Non Tax =A0 =A0 +$100
>
> Now the Banking Summary Report reflect the proper income and the Tax Repo=
rt
> is reporting correctly also. =A0Thanks for getting me on track.
>
> Steve
>
>
>
>
>
> > Steve wrote:
> >> I need some advise on how to properly setup a split scheduled deposit
> >> for a small monthly annuity deposit for $250. =A0I've tried difference
> >> ways, it seemed simple until I tried to do it. =A0Within Q09 I have an
> >> Investment Account (Company A) that was annuitized to a cash balance
> >> of +$40,000. =A0Each month I am receiving a direct depost from Company
> >> A for $250 deposited to my Checking Account.
>
> >> I receive $250 (gross distribution) of which $150 (taxable amount)
> >> and $100 (non taxable distribution). =A0What should my Split
> >> Transaction window reflect.
>
> >> Category
> >> Line 1. [Company A] =A0 =A0 =A0 =A0 +$250 (Set as transfer from accoun=
t
> >> [Company A] tax line item "Out:1099-R:Total IRA gross distrib.")
> >> Line 2. Annuity Adjustment -$250 (Category I added for lack of
> >> knowedge to make the numbers work.)
> >> Line 3. Annuity Taxable =A0 =A0 =A0+$150 (Set for tax line item
> >> 1099-R:Total IRA taxable distrib.)
> >> Line 4. Annuity Non Tax =A0 =A0 +$100
>
> >> When I run the Banking Summary Report for two deposits I get:
>
> >> Income:
> >> Annuity
> >> =A0 =A0Annuity Adjustment =A0-$500
> >> =A0 =A0Annuity Non Tax =A0 =A0 +$200
> >> =A0 Total Annuity: =A0 =A0 =A0 =A0 =A0 -$300
> >> Total Income: =A0 =A0 =A0 =A0 =A0 =A0 =A0-$300
>
> >> Does this make sense?
>
> > Not to me.
>
> > First, the math doesn't work: -500 +200 -300 doesn't equal -300. I thin=
k
> > you left out the Annuity:Taxable amount of +300.
>
> > Second, if you want the Category "Annuity" to represent the total amoun=
t
> > of your Annuity payments, you can't include the "adjustment" category
> > under it (or you at least need to exclude the adjustment category from =
the
> > report).
>
> > Third, you could replace the Annuity Adjustment with a "category" of
> > [MyCheckingAccount] (where MyCheckingAccount is the name of your Quicke=
n
> > checking account), which would be a transfer back into the checking
> > account. =A0It will have same effect on the transaction as your adjustm=
ent
> > category, and it will be excluded from the Income/Expense report by
> > default (as an "internal" transfer).
>
> > You'll have to handle the transfer FROM the annuity account separately =
in
> > reports, but since you didn't include it in your post, I assume you are
> > already handling it to your satisfaction.
>
> > Others here may have an even better way to approach this.
>
> > --
>
> > John Pollard
> > First initial underscore Last name at mchsi dot com
> > Please reply to newsgroup- Hide quoted text -
>
> - Show quoted text -
Steve/John
Was intrigued with the clever work-around to handle the taxable/non-
taxable split distribution.
Went to a test file and duplicated your entries. Checked the Tax
Schedule Report and everything reports correctly there from a tax
reporting standpoint.
However - did notice one strange result in the Projected Cash Flow
[PCF] view [I'm using QW08 Dlx]. The "IN" reports double the
distribution as income; i.e., it sees the transfer and the modified
[taxable and non-taxable] split entries but seems to be missing/
ignoring the "offset"; the "[checking acct]" split entry. Never-the-
less, in "What Left", the ending account balance is correct.
Stepping ahead a month at a time in the PCF view, the incorrect [2x]
income repeats - but the ending account balance is always correct.
Ran a Cash Flow Report [Reports > Banking > Cash Flow] and it is
correct - the taxable and non-taxable split entries report as income.
Do you see similar behavior in the PCF view?
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