[GNC] How to handle multiple Schedule Cs and Es in TXF export?
Jediator
jediator at artemisspace.com
Mon Jan 20 10:49:40 EST 2025
Thanks David. Here are some use cases: Joe is a plumber but also
delivers groceries to nursing homes. Joanne is a realtor but also runs
a property management service, and sells Tupperwares to other moms. It
is not uncommon that many self-employed today have more than one
business, and IRS wants you to clearly separate each types of business,
i.e., filling each business on separate Schedule Cs. For people owning
more than three rental properties, you definitely need more than one
Schedule E. I would assume many accountants and other financial
professionals on this mailing list had encountered similar use cases.
Actually you don't have to have separate books for different Schedule
Cs/Es. Just need to select relevant accounts when doing TXF export.
You have to do multiple import or manually concatenate those TXF files
(TXF are ACSCII files) with some manual editing to create a single TXF.
But it shouldn't be difficult to enable multi-schedule-C/E export.
First the user needs to predefine a list of businesses (a new GUI
window). Second, associate each account with a pre-defined business when
defining tax reporting options (a pull-down manual on the tax report
option window). A new back-end database table may have to be create.
I'd like to hear other options before filing a new feature request. Cheers!
-- ND
On 1/19/25 1:46 PM, sunfish62 at yahoo.com wrote:
> 1) GnuCash is intended for small businesses and individuals. A single
> entity needs only one Schedule C.
>
> 2) The TXF functionality has been supplied by one contributor to meet
> basic reporting needs.
>
> #1 suggests one Schedule C per file would be provided in GnuCash. #2
> suggests that the need for multiple Schedule Cs would be beyond the
> scope of that contributor.
>
> I suggest that you would be better served by setting up separate
> GnuCash files for each entity requiring its own Schedule C.
>
> David T.
> On Jan 19, 2025, at 7:52 PM, Jediator <jediator at artemisspace.com> wrote:
>
> Apparently the default TXF export in GNC can only generate a single
> Schedule C and/or Schedule E doc. Is there anyway to do multiple Sch C
> and E in TXF export? One option to circumvent this would be to select
> export accounts and create multiple TXF files corresponding to different
> schedules. But not sure how the tax software (e.g. TurboTax) would be
> able to import them correctly. Has anyone done this before? Thanks!
>
> -- ND
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