[GNC] How To Set Tax Report Options

[Alex Aycinena]

>
>
> From: Keith Fetterman <keithfetterman at gmail.com>
> To: GnuCash users group <gnucash-user at gnucash.org>
> Cc:
> Bcc:
> Date: Sat, 4 Apr 2020 08:33:43 -0700
> Subject: Re: [GNC] How To Set Tax Report Options
> A follow up question related to using the "Tax Report Options” feature.
> What are the fields “Payer Name Source” and “Copy Number” used for?
>
>
See "Setting Tax Report Options" in Gnucash help manual:

"For codes for which the "Payer Name Source" is not grayed, the payer on
the TXF record will be based on what is specified here, either the account
name of the account or the account name of the account’s parent account.
This feature is typically used for interest accounts or stocks or mutual
funds that pay dividends where the individual payees are shown on the tax
schedule. For example, if the parent account’s name is the name of your
broker and the sub-account’s names are the names of individual stocks that
pay dividends and the name on the 1099-DIV received is that of the broker,
in order to match that name, you would select ’Parent Account’; the total
dividends from the broker would be exported and, if you had several
brokers, there would be an amount exported and a subtotal for each broker,
along with each brokers name. Alternatively, if you had a parent account
named *Directly Held*, for example, and below it sub-accounts for one or
more stocks, you would receive a 1099-DIV from the issuer of each stock
separately and, in order to match that name, you would select Current
Account; the total dividends from each stock would be exported and, if you
had several stocks, there would be an amount exported and a subtotal for
each stock, along with each stock’s name as the payer.

Some tax Forms/Schedules need to have multiple copies filed under some
circumstances (for example, Schedule C if a taxpayer and spouse have
separate businesses). For tax categories on these Forms/Schedules, the Copy
Number is not grayed out and can be used to segregate accounts by copy
number."


> Thanks
>
> > On Apr 4, 2020, at 8:30 AM, Keith Fetterman <keithfetterman at gmail.com>
> wrote:
> >
> > Is there documentation on how to set tax report options for multiple
> accounts?  I am trying to set the income tax classifications (TXF
> Categories) for multiple expense and income accounts, but it doesn’t seem
> to be able to do more than one account at a time.  Here is what I am doing.
> >
> > Set income tax identity to “Individual, Joint …”
> > Select an expense account
> > Click the Tax Related checkbox
> > Select a TXF Category
> > Select another expense account
> > Click the Tax Related checkbox
> > Select a TXF Category
> > etc.
> >
> > When I return to a previous expense account, the Tax Related checkbox is
> unchecked and the TXF Category assignment is cleared.
> >
> > Do you have to run the “Tax Report Options” assignment separately for
> each account?  By this I mean, perform the steps above for a single account
> then click the “OK” button to close the dialog?
>

Unfortunately, you have to do them one-at-a-time. There is a long-standing
feature request to allow them to be done in batches but it hasn't been
implemented. At least it is just a big effort once at the beginning; once
set up, ongoing maintenance is not as onerous. Note that, as it says in the
manual,:

"If the Income Tax features are used, it is strongly recommended that the Tax
Info column be made visible on the accounts tab (click large
downward-pointing arrow and select Tax Info check box). The Tax Info column
will display the Form/Schedule and tax category (e.g., Schedule D Dividend,
cap gain distrib.) assigned to an account, if any."

This allows you to scan down the chart-of-accounts and see that all
accounts that should be tagged are and that those that shouldn't be aren't.

The whole US Income Tax feature is a bit cumbersome and needs to be
re-implemented, but that is a big task.



> >
> > Thanks
> >
> > Keith
>
>
Regards,

Alex