[GNC-dev] Tax schedule report outputting entries outside of selected date range
Jeff
beastmaster126 at hotmail.com
Mon Mar 20 03:15:41 EDT 2023
On 3/19/23 8:46 PM, Alex Aycinena wrote:
> Jeff,
>
> What is the type of the account that this particular out-of-date-range
> transaction is listed for (i.e., Income, Expense, Asset, or Liability)?
>
> It would help me to know in order to try to reproduce the problem. Is
> it an Asset or Liability?
>
> From memory, for Asset or Liability accounts, the report is supposed
> to show: the beginning balance, all transactions for the year, and the
> ending balance. The beginning balance for the TXF code, that the
> account is reported under, should correspond to the reported amount on
> last year's return, the listed transactions allow you to verify that
> the change for this year is correct, and the ending balance is the
> amount to report for this year, once the verification process is complete.
>
> Thanks,
>
> Alex
>
> On Fri, Mar 17, 2023 at 2:21 AM Jeff <beastmaster126 at hotmail.com> wrote:
>
> On 3/16/23 5:39 PM, Alex Aycinena wrote:
>>
>>
>>
>> ---------- Forwarded message ----------
>> From: Jeff <beastmaster126 at hotmail.com>
>> To: gnucash-devel <gnucash-devel at gnucash.org>
>> Cc:
>> Bcc:
>> Date: Thu, 16 Mar 2023 01:18:08 -0500
>> Subject: [GNC-dev] [GNC] Tax schedule report outputting
>> entries outside of selected date range
>> I'm trying to generate a tax report (federal 1040) for entry
>> into my tax software, as I do every year and have never ran
>> into this issue.
>>
>> Not sure of the version of GNC I'm running on Windows 10.
>> Running Version 4.13 Build ID: Flathub 4.13 Finance Quote:
>> 1.5301 under Ubuntu 20.04 LTS.
>>
>> Both versions are including a transaction from 07/02/2020
>> when the date range for the report is 01/01/2022 to
>> 12/31/2022. The transaction of concern is listed as "Tax
>> Report Only - No TXF Export".
>>
>> I have limited internet access right now so I can not confirm
>> that this is a known bug. My concern is that the report may
>> also be skipping transactions from 2022. I have exported the
>> report as a pdf file with no options selected other than the
>> time frame, and the transaction shows up there as well. If I
>> edit the options to suppress $0, no printing of full account
>> names/action:memo data/transaction detail, and print TXF
>> export parameters, the errant transaction shows up.
>>
>> Any ideas why?
>>
>> --
>> --JEffrey Black M.B.A.
>>
>>
>> What is the TXF code on the report for the errant transaction?
>> '000' or ' N000'? That is the only TXF code that has that
>> description (Tax Report Only - No TXF Export).
>>
>> If you go to the account that the report has that transaction
>> listed under in the Edit->Tax Report Options panel, is the
>> account set as 'Tax Related'? If so, should it be? And if it
>> should be, should it have another Form/Schedule item selected? If
>> changes to this account are warranted and made, does the errant
>> transaction still appear or go away?
>>
>> Before entry into your tax software, you can get comfortable that
>> the other Income Tax Report totals are correct by comparing the
>> account totals to totals for the year of other reports. If there
>> are unexpected differences (there shouldn't be), the transaction
>> detail in the Tax Report can help you figure out what it is.
>>
>> There is a TXF code, 521 for 'Federal estimated tax, qrtrly'
>> which has special date processing for calendar date ranges, as
>> explained in the description for that code, to catch the Jan 15
>> payment made the next year. Other than that, all splits selected
>> to generate the report should be in the date range.
>>
>> In any case, I don't understand why a 07/02/2020 transaction
>> should appear in the report if the specified date range is
>> 01/01/2022 to 12/31/2022. I will try to replicate the error with
>> test data and look at the code to see if I can figure it out.
>>
>> Look forward to your response to my questions above.
>>
>> Alex
>
> The TXF code for that account is '000'. This particular account
> was required on a prior years return (actually the number of
> payments was required, not the sum total) but; there is no
> corresponding tax form/line number for it, hence the reason for
> selecting "Tax Report Only - No TXF Export". The only reason I
> caught it in the report, is that it was for Covid related income,
> and I knew that there was none in 2022.
>
> The 'Income Tax Identity' is set for 'Individual, Joint, etc. -
> Files US form 1040'.
>
> Just as an experiment I added a transaction for $1 into that
> account for '03/17/2021' and it summed it to the total as well in
> the report for 2022. If I remove the account from the tax related
> entries it disappears.
>
> So far, this one account is the only trouble maker that I have
> discovered.
>
> As for the TXF code, 521 for 'Federal estimated tax, qrtrly', I
> have not had to use it in years. Now I remember why the need for
> special date processing (thanks for the refresher).
>
> Ah-ha. I see what it is doing, just not how to get rid of it in
> the report, short of adding a t account to zero it. Most of the
> accounts that I have set for "Tax Report Only - No TXF Export"
> have transactions posted in 2022 and behave as I expected. I just
> noticed that I have not manually entered the depreciation in some
> specialty accounts for 2022 so I end up with the last balance that
> the account had (irregardless of the date of the last entry), not
> $0.00 if no entries for 2022. That is why the Covid payment is
> showing up, there have been no entries since it was posted so it
> gives me the current amount still in that account. Thus, any of
> the deprecation accounts that have no entries for 2022 are showing
> me misleading values for 2022 if they have never been updated or
> brought to a balance of $0.00. I will have to manually go through
> every account of type "Tax Report Only - No TXF Export" and enter
> the balancing transactions that I missed.
>
> --
> --JEffrey Black M.B.A.
>
It is set for type Bank. At the time I created the account I was not
sure whether to treat it as an asset or a liability, as it could have
gone either way. The funds came in from a government source, but the
paperwork stated that it may or may not have to be paid back, "wait for
future mailings". That seemed the best choice at the time.
--
--JEffrey Black M.B.A.
More information about the gnucash-devel
mailing list