Tax Report and pre-tax deductions from salary/pay

Larry O'Leary larryoleary at gmail.com
Sun Mar 28 01:41:09 EDT 2010


Okay.  I have done some searching and couldn't seem to come up with a
good explanation or description of how to make this work.

What I have is a pretty straight forward way of tracking pay checks
from my employer:

Acme                    -- Split Transaction --
   Fed Tax              Exp:Tax:Fed         475.00
   Soc Sec Tax          Exp:Tax:Soc Sec     225.00
   Med Tax              Exp:Tax:Med          75.00
   State Tax            Exp:Tax:State       100.00
   125 Flex Spending    Liab:FSA             25.00
   Checking 1           Asst:Checking 1    1000.00
   Checking 2           Asst:Checking 2     100.00
   Savings 1            Asst:Savings 1     1000.00
   Earnings Statement   Inc:Paychecks:Acme    0.00
   Salary               Inc.Salary                  3000.00


Now, let's say that this is all I have for the entire year.  I am now
ready to create a tax report or export to TXF.  I can see in the Tax
Options that I need to assign my W-2 wages to the account Inc:Salary.
However, my real W-2 doesn't reflect 3000.00 as wages.  Instead, it
reflects 2975.00.  This is because the Liab:FSA amount of 25.00 was a
pre-tax deduction.  I need some way of associated this with the W-2's
wages box.  For example:

W-2 Wages = Inc:Salary - Liab:FSA


Now, I am aware that the example doesn't make a whole lot of sense
seeing that this would seem to imply that I want to subtract the
Liab:FSA account balance from Inc:Salary.  What I really want to do is
subtract all the deductions (pre-tax) from W-2 Wages.  Is this
possible?  Or is this something that we are expected to do manually
when calculating taxes?

My goal is to get a report from GnuCash that will give me the exact
figures for all the necessary tax form/worksheet lines/columns.

Thanks in advance!
Larry


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