On Wed, May 17, 2023 at 9:00 AM <[email protected]> wrote:
> > ---------- Forwarded message ---------- > From: flywire <[email protected]> > To: Gnucash Users <[email protected]> > Cc: > Bcc: > Date: Wed, 17 May 2023 17:17:45 +1000 > Subject: Re: [GNC] Tax report options > https://lists.gnucash.org/pipermail/gnucash-user/2023-May/107018.html > flywire wrote: > > > It is a spreadsheet process to add share/franking credits to etf/franking > > credits (Distribution:13Q) and similar for capital gains > > (Distribution:18H:18A) since the components are the same tax item. Any > > thoughts of how I could sum them in reports from different account trees? > > > > lol In the heat of the moment preparing tax I'd never thought of just > transferring the total to the main account for that item. > > https://lists.gnucash.org/pipermail/gnucash-user/2023-May/107020.html > flywire wrote: > > > ...there are 13 annual returns > > > > To be clear, the items on the return map to different tax codes, eg > franking credits is 13Q on a personal return and 8D on a trust return. I'd > expect a table would need to be maintained for each return type. Australian > codes hardly change over time which likely means there would be no active > maintenance. > > Is it as simple as just using a unique tax code as account code and then > reporting by account code? (Assume one return type.) > > _______________________________________________ > > Some questions have been asked about Tax Report Options in the past couple of weeks. I have been away and not able to respond or make comments. Let me make these points, which may not necessarily apply to this thread, but to others (sorry): - The Tax Report Options and associated US Income Tax Report are only intended to be used for US Income Taxes. - Some time ago, someone in Germany used the US version and made adjustments for use in Germany; I'm not familiar with that and don't know if it works and is being maintained. - Initially it was intended primarily to generate a file that could be uploaded to Income Tax Preparation software (and a report was sort of secondary) and so a key element of the design was the use of TXF codes that the Tax software could understand; the specification for those codes was abandoned some time ago so the ability to expand the system is not there unless we invented our own new TXF code (ugh!). - That is why there is nothing for Form 1116. - If someone wanted to do what was done for Germany for another jurisdiction, they would have to deal with this TXF issue; I certainly don't recommend trying it. - The US version could/should be re-written to not depend on TXF codes but this would not be trivial. - One can use the 'No Tax code' tag to include accounts on the US Income Tax Report, just not sorted by Form/Schedule; you could use the account name and/or description for that purpose for those accounts to give you totals (example: for Form 1116). - The system assumes that each 'book' (i.e., gnucash file) is for one reporting entity (individual, partnership, corporation, etc.) and that one file is not used to track the accounts of more than one tax reporting entity. - You can certainly use your account structure design and other available reports to get your tax information without using this system; in fact, if you use this system, you have to carefully design your account structure and do careful data entry to get the report to be useful. Alex _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
