Edit-Tax Report

[David T.]

Richard,

Tax Report Options are assigned on an account-by-account basis from the menu option you note and then used by the TXF Report to create a tax summary. 

If you are diligent on assigning specific account(s) to tax code lines, you can quickly generate a report (and a TXF file, if you wish) that can be used to update your taxes. I have tinkered with these settings over the years, and I now run this report and compare it against all the different tax documents I receive from financial institutions. It greatly smooths my tax preparation; if the numbers on my W-2 match what I have in Gnucash, I am more confident of the other numbers there.

Note that the feature has a few quirks, most notably that you can only set one tax code assignment at a time. 

What I mean is, if you have several accounts for one tax line (as, for example, when you have multiple accounts for interest earned), you can assign them all at once. But if you want to assign one account to one tax line, and then another account to a different one, you have to do each one separately (this may be changed in the 2.6 version--I am still stuck in 2.4). This certainly slows down the process, but the set up is a one-time (mostly) process. Once it looks good this year, it should pretty much look good next year as well.

HTH,
David


----- Original Message -----
From: Richard Barmann <dick at stripingthetown.com>
To: gnucash-user at gnucash.org
Cc: 
Sent: Thursday, January 8, 2015 9:39 AM
Subject: Edit-Tax Report

How does the "Edit --Tax Report Options"   figure in to the mix. I am 
trying to get ready to do my taxes and don't know if it helps or just do 
a journal of Income and expense. Thank you.
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