Re: [GNC] Tax report options (flywire)

[Gyle McCollam]

Thank you. I appreciate that and it's not a big deal.  I's just that this way 
the OP gets the answers h was looking for.



Thank You,

Gyle McCollam

Gyle McCollam

gmccol...@live.com<mailto:gmccol...@gyleshomes.com>   email


From: Bob Crochelt 
Sent: Friday, May 19, 2023 6:31 PM
To: Gyle McCollam ; gnucash-user@gnucash.org 

Subject: Re: [GNC] Tax report options (flywire)

Thank you.  I will try to do better in the future.
Bob C.
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Re: [GNC] Tax report options (flywire)

[Bob Crochelt]

Thank you.  I will try to do better in the future.
Bob C.
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Re: [GNC] Tax report options (flywire)

[Gyle McCollam]

Bob,
You replied to me only.  I was replying to Brad.  You should use reply all so 
that your reply goes to the list.


Thank You,

Gyle McCollam

Gyle McCollam

gmccol...@live.com<mailto:gmccol...@gyleshomes.com>   email


From: Bob Crochelt 
Sent: Friday, May 19, 2023 2:02 PM
To: Gyle McCollam 
Subject: Re: [GNC] Tax report options (flywire)

Hi:
Huntington Bank offers OFX/QFX for checking and savings, but not AFAIK CD's.
HTH
Bob Crochelt

On Thu, May 18, 2023 at 03:48:18PM +, Gyle McCollam wrote:
> Brad,
> As fr as banks with FDIC Insurance and OFX/QFX downloads, I can think of 3 
> off the top of my head.  Presidential Bank in MD, good rate, but only on the 
> 1st $25,000 in checking with conditions.  2nd, Bask Bank/Texas Capital, 
> limited to 2 savings accounts and CDs.  Last. but not least CIT Bank (not 
> CITI).  I'm sure there are many others and even if they only offer CSV 
> downloads, that is almost as easy once you've done it once.
>
>
> Thank You,
>
> Gyle McCollam
>
> Gyle McCollam
>
> gmccol...@live.com<mailto:gmccol...@gyleshomes.com>   email
>
> 
> From: gnucash-user  on 
> behalf of Brad Morrison 
> Sent: Thursday, May 18, 2023 5:56 AM
> To: gnucash-user@gnucash.org 
> Cc: fdxmemberservi...@financialdataexchange.org 
> ; 
> fdxsupp...@financialdataexchange.org 
> Subject: Re: [GNC] Tax report options (flywire)
>
> Hi Alex/all,
>
> Thank you for the overarching explanations about how GnuCash Tax Report
> Options work and some of the issues behind that.
>
> As I covered in my April 25 post
> (https://lists.gnucash.org/pipermail/gnucash-user/2023-April/106671.html),
> I have been trying to find US based FDIC insured banks that allow for
> transactional data to be downloaded in the OFX file format
> (https://en.wikipedia.org/wiki/Open_Financial_Exchange). I have still
> not been able to find any that do, so I dug a bit deeper (the ICBA and
> several other banking associations did not respond to my inquiries) and
> noticed that the Financial Data Exchange group that hosts the "OFX Work
> Group" (https://financialdataexchange.org/ofx) seems to be quite out of
> date (copyright date at the bottom lists 2020 as the year, 2019 is the
> last date on the timeline, etc.). The Financial Data Exchange homepage
> (https://financialdataexchange.org/) looks better maintained and seems
> to have several news items from the last month, but also has that 2020
> copyright date at the bottom. FDX also has this Tax Data Exchange
> section
> (https://financialdataexchange.org/FDX/FDX/US-Tax/US-Tax-Forms.aspx?hkey=00bae613-7ec8-4c93-8e37-4712f09ae255)
> under the "Resources" tab, but it also looks a bit stale. You may be
> able to parse the technical information there better than I can, but it
> might be worth a look as that Tax Data Exchange page also seems to
> acknowledge what you are saying about TXF code being abandoned
> ("Standards-based JSON files are superior to both CSV and TXF files CSV
> files require proprietary programs to process. Documentation and support
> of the TXF standard has dwindled and has now been fully-replaced by new
> standards.")
>
> I do not know if GnuCash is already a member of FDX, but that maybe
> something to consider...?
>
> Brad
>
> On 5/17/23 12:08, Alex Aycinena wrote:
> > On Wed, May 17, 2023 at 9:00 AM  wrote:
> >
> >> -- Forwarded message --
> >> From: flywire
> >> To: Gnucash Users
> >> 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. 

Re: [GNC] Tax report options (flywire)

[Stephen]

JP Morgan Chase Bank provides OFX/QFX format downloads of Checking and 
Savings Accounts. I DL these monthly to correspond with the just-ended 
statement period. They are very easy to import into Gnucash and make 
reconciliation and reporting a snap. Sorry, I do not know about the 
Direct-Connect or AQBank type stuff and I am not following the 
discussion in re taxes.

 Stephen

On 5/18/2023 4:56 AM, Brad Morrison wrote:

Hi Alex/all,

Thank you for the overarching explanations about how GnuCash Tax 
Report Options work and some of the issues behind that.


As I covered in my April 25 post 
(https://lists.gnucash.org/pipermail/gnucash-user/2023-April/106671.html), 
I have been trying to find US based FDIC insured banks that allow for 
transactional data to be downloaded in the OFX file format 
(https://en.wikipedia.org/wiki/Open_Financial_Exchange). I have still 
not been able to find any that do, so I dug a bit deeper (the ICBA and 
several other banking associations did not respond to my inquiries) 
and noticed that the Financial Data Exchange group that hosts the "OFX 
Work Group" (https://financialdataexchange.org/ofx) seems to be quite 
out of date (copyright date at the bottom lists 2020 as the year, 2019 
is the last date on the timeline, etc.). The Financial Data Exchange 
homepage (https://financialdataexchange.org/) looks better maintained 
and seems to have several news items from the last month, but also has 
that 2020 copyright date at the bottom. FDX also has this Tax Data 
Exchange section 
(https://financialdataexchange.org/FDX/FDX/US-Tax/US-Tax-Forms.aspx?hkey=00bae613-7ec8-4c93-8e37-4712f09ae255) 
under the "Resources" tab, but it also looks a bit stale. You may be 
able to parse the technical information there better than I can, but 
it might be worth a look as that Tax Data Exchange page also seems to 
acknowledge what you are saying about TXF code being abandoned 
("Standards-based JSON files are superior to both CSV and TXF files 
CSV files require proprietary programs to process. Documentation and 
support of the TXF standard has dwindled and has now been 
fully-replaced by new standards.")


I do not know if GnuCash is already a member of FDX, but that maybe 
something to consider...?


Brad

On 5/17/23 12:08, Alex Aycinena wrote:
On Wed, May 17, 2023 at 9:00 AM  
wrote:



-- Forwarded message --
From: flywire
To: Gnucash Users
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 sort

Re: [GNC] Tax report options (flywire)

[Gyle McCollam]

Brad,
As fr as banks with FDIC Insurance and OFX/QFX downloads, I can think of 3 off 
the top of my head.  Presidential Bank in MD, good rate, but only on the 1st 
$25,000 in checking with conditions.  2nd, Bask Bank/Texas Capital, limited to 
2 savings accounts and CDs.  Last. but not least CIT Bank (not CITI).  I'm sure 
there are many others and even if they only offer CSV downloads, that is almost 
as easy once you've done it once.


Thank You,

Gyle McCollam

Gyle McCollam

gmccol...@live.com<mailto:gmccol...@gyleshomes.com>   email


From: gnucash-user  on 
behalf of Brad Morrison 
Sent: Thursday, May 18, 2023 5:56 AM
To: gnucash-user@gnucash.org 
Cc: fdxmemberservi...@financialdataexchange.org 
; 
fdxsupp...@financialdataexchange.org 
Subject: Re: [GNC] Tax report options (flywire)

Hi Alex/all,

Thank you for the overarching explanations about how GnuCash Tax Report
Options work and some of the issues behind that.

As I covered in my April 25 post
(https://lists.gnucash.org/pipermail/gnucash-user/2023-April/106671.html),
I have been trying to find US based FDIC insured banks that allow for
transactional data to be downloaded in the OFX file format
(https://en.wikipedia.org/wiki/Open_Financial_Exchange). I have still
not been able to find any that do, so I dug a bit deeper (the ICBA and
several other banking associations did not respond to my inquiries) and
noticed that the Financial Data Exchange group that hosts the "OFX Work
Group" (https://financialdataexchange.org/ofx) seems to be quite out of
date (copyright date at the bottom lists 2020 as the year, 2019 is the
last date on the timeline, etc.). The Financial Data Exchange homepage
(https://financialdataexchange.org/) looks better maintained and seems
to have several news items from the last month, but also has that 2020
copyright date at the bottom. FDX also has this Tax Data Exchange
section
(https://financialdataexchange.org/FDX/FDX/US-Tax/US-Tax-Forms.aspx?hkey=00bae613-7ec8-4c93-8e37-4712f09ae255)
under the "Resources" tab, but it also looks a bit stale. You may be
able to parse the technical information there better than I can, but it
might be worth a look as that Tax Data Exchange page also seems to
acknowledge what you are saying about TXF code being abandoned
("Standards-based JSON files are superior to both CSV and TXF files CSV
files require proprietary programs to process. Documentation and support
of the TXF standard has dwindled and has now been fully-replaced by new
standards.")

I do not know if GnuCash is already a member of FDX, but that maybe
something to consider...?

Brad

On 5/17/23 12:08, Alex Aycinena wrote:
> On Wed, May 17, 2023 at 9:00 AM  wrote:
>
>> -- Forwarded message --
>> From: flywire
>> To: Gnucash Users
>> 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 gene

Re: [GNC] Tax report options (flywire)

[Brad Morrison]

Hi Alex/all,

Thank you for the overarching explanations about how GnuCash Tax Report 
Options work and some of the issues behind that.


As I covered in my April 25 post 
(https://lists.gnucash.org/pipermail/gnucash-user/2023-April/106671.html), 
I have been trying to find US based FDIC insured banks that allow for 
transactional data to be downloaded in the OFX file format 
(https://en.wikipedia.org/wiki/Open_Financial_Exchange). I have still 
not been able to find any that do, so I dug a bit deeper (the ICBA and 
several other banking associations did not respond to my inquiries) and 
noticed that the Financial Data Exchange group that hosts the "OFX Work 
Group" (https://financialdataexchange.org/ofx) seems to be quite out of 
date (copyright date at the bottom lists 2020 as the year, 2019 is the 
last date on the timeline, etc.). The Financial Data Exchange homepage 
(https://financialdataexchange.org/) looks better maintained and seems 
to have several news items from the last month, but also has that 2020 
copyright date at the bottom. FDX also has this Tax Data Exchange 
section 
(https://financialdataexchange.org/FDX/FDX/US-Tax/US-Tax-Forms.aspx?hkey=00bae613-7ec8-4c93-8e37-4712f09ae255) 
under the "Resources" tab, but it also looks a bit stale. You may be 
able to parse the technical information there better than I can, but it 
might be worth a look as that Tax Data Exchange page also seems to 
acknowledge what you are saying about TXF code being abandoned 
("Standards-based JSON files are superior to both CSV and TXF files CSV 
files require proprietary programs to process. Documentation and support 
of the TXF standard has dwindled and has now been fully-replaced by new 
standards.")


I do not know if GnuCash is already a member of FDX, but that maybe 
something to consider...?


Brad

On 5/17/23 12:08, Alex Aycinena wrote:

On Wed, May 17, 2023 at 9:00 AM  wrote:


-- Forwarded message --
From: flywire
To: Gnucash Users
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 ava

Re: [GNC] Tax report options (flywire)

[Alex Aycinena]

On Wed, May 17, 2023 at 9:00 AM  wrote:

>
> -- Forwarded message --
> From: flywire 
> To: Gnucash Users 
> 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
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Re: [GNC] Tax report options

[flywire]

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.)
___
gnucash-user mailing list
gnucash-user@gnucash.org
To update your subscription preferences or to unsubscribe:
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-
Please remember to CC this list on all your replies.
You can do this by using Reply-To-List or Reply-All.

Re: [GNC] Tax report options

[flywire]

The intention was to highlight the response used accounts, not the built-in
tax report, rather than suggest the tax report should be available to
Australians. I imagine the report allows tax codes to be attached to
accounts and sums all accounts for the same code. I was taught to align
accounts to tax items. I expect the tax code table would need to be user
accessible so users could change it if needed, even if it involved editing
a system table, instead of relying on a maintenance release.

I don't know if it would be feasible, the Australian Taxation Office has
heaps of forms and there are 13 annual returns on
https://www.ato.gov.au/Forms/Consolidated-list-of-approved-forms-by-tax-topic/?anchor=H13#H13
and
more regular forms like the Business Activity Statement. Increasingly the
forms are being replaced by online systems but the data still needs to be
collated.

Others might see it differently. Commercial finance software connects
directly to the tax office demonstrating it is possible.

Regards

>
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Re: [GNC] Tax report options

[John Ralls]

> On May 14, 2023, at 19:24, flywire  wrote:
> 
> GnuCash Tax reporting feature doesn't work for Australia.

Nor are they intended to be. TXF is a format invented by a US company, Intuit, 
to transfer information from their Quicken personal finance manager to their US 
tax-reporting program Turbotax. Other programs adopted the format as a defacto 
standard. The codes are keyed to US tax forms. The code is in a directory named 
libgnucash/tax/us and gnucash/report/reports/locale-specific/us. There's a 
maintained German interpretation in libgnucash/tax/de_DE and 
gnucash/report/reports/locale-specific/de_DE, but it hasn't had any substantive 
maintenance in 12 years.

A PR for an Australian version would be welcome, but for it to be really useful 
somebody has to maintain it like Alex does the US one. Even that ignores the 
other end of the equation, the tax program to import the TXF data.

FWIW I have fairly complex taxes but i find it easier to run a balance sheet 
and income statement for the end of the year and just fill out the Turbotax 
questionnaires from that than to maintain the ever-changing relationships 
between accounts and TXF categories.

Regards,
John Ralls


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[GNC] Tax report options

[flywire]

GnuCash Tax reporting feature doesn't work for Australia. To extend a few
comments:

> ...enter these foreign tax transactions... to a separate foreign tax
account
> That's perhaps because you hold foreign stocks only through mutual funds
> That's what accountants are for. Asking GnuCash to provide that level of
monitoring is out of scope for the software.

I disagree with the last comment. One of my favorite features of GnuCash is
tracking these ETF components and it has nothing to do with accountants.
With community support, I set up a contra account to get tax or financial
(cash) reporting from something I never understood (details in
https://lists.gnucash.org/pipermail/gnucash-user/2021-August/097493.html
thread).

It is a fairly quick and easy process using excel/python and Multi-split
csv import. ETF foreign tax transactions using normal accounts are shown
in
https://github.com/flywire/ETF-Annual-Statement/blob/main/VAS-annual-tax-statement-2018.png
and https://github.com/flywire/ETF-Annual-Statement as codes.

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?
Tags would be a bit messy. I don't use account codes.

Regards
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Re: [GNC] Tax report options

[Ken Farley]

Why yes, John, that's exactly it. I've only owned foreign stocks in 
mutual funds (and ETFs). So if you ask me right now, almost halfway 
through the year, how much foreign taxes I've paid or had paid for me, I 
just shrug. I won't know until next February. Oddly enough, one of the 
past letters I've gotten from the IRS was not a "you botched this, and 
owe us" but rather "you missed this and we owe you". All part of the 
Byzantine puzzle we are forced to endure every year, I suppose.

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Re: [GNC] Tax report options

[John Ralls]

That's perhaps because you hold foreign stocks only through mutual funds. The 
brokers I've used over the years (mostly Smith Barney and Schwab) report 
foreign tax withheld on statements as part of reporting dividends on individual 
foreign stocks that I hold via ADRs.

Regards,
John Ralls

> On May 14, 2023, at 09:24, Ken Farley  wrote:
> 
> Form 1116 has cost me at least a couple of iterations of filing my taxes in 
> the past. It would be nice if something told me I needed it...but unless I 
> was paying taxes to a foreign nation directly, meaning a transaction occurs 
> in one of my accounts, I don't see how I would have it included in this 
> report. Dividends I get, interest received, capital gains, etc. These are all 
> entries into my ledgers that the report can be told to use. The taxes paid 
> that are useful for the Form 1116 tax credit are only known to me when I get 
> my 1099 Forms from my investment brokerage. I have absolutely no idea what 
> they will be until I see that entry in the form. So, I don't understand how 
> the tax report in Gnucash would be able to supply you with this information?
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Re: [GNC] Tax report options

[John Ralls]

That's perhaps because you hold foreign stocks only through mutual funds. The 
brokers I've used over the years (mostly Smith Barney and Schwab) report 
foreign tax withheld on statements as part of reporting dividends on individual 
foreign stocks that I hold via ADRs.

Regards,
John Ralls

> On May 14, 2023, at 09:24, Ken Farley  wrote:
> 
> Form 1116 has cost me at least a couple of iterations of filing my taxes in 
> the past. It would be nice if something told me I needed it...but unless I 
> was paying taxes to a foreign nation directly, meaning a transaction occurs 
> in one of my accounts, I don't see how I would have it included in this 
> report. Dividends I get, interest received, capital gains, etc. These are all 
> entries into my ledgers that the report can be told to use. The taxes paid 
> that are useful for the Form 1116 tax credit are only known to me when I get 
> my 1099 Forms from my investment brokerage. I have absolutely no idea what 
> they will be until I see that entry in the form. So, I don't understand how 
> the tax report in Gnucash would be able to supply you with this information?
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Re: [GNC] Tax report options

[David T. via gnucash-user]

That's what accountants are for. Asking GnuCash to provide that level of 
monitoring is out of scope for the software. 

⁣David T. ​

On May 14, 2023, 5:25 PM, at 5:25 PM, Ken Farley  wrote:
>Form 1116 has cost me at least a couple of iterations of filing my
>taxes 
>in the past. It would be nice if something told me I needed it...but 
>unless I was paying taxes to a foreign nation directly, meaning a 
>transaction occurs in one of my accounts, I don't see how I would have 
>it included in this report. Dividends I get, interest received, capital
>
>gains, etc. These are all entries into my ledgers that the report can
>be 
>told to use. The taxes paid that are useful for the Form 1116 tax
>credit 
>are only known to me when I get my 1099 Forms from my investment 
>brokerage. I have absolutely no idea what they will be until I see that
>
>entry in the form. So, I don't understand how the tax report in Gnucash
>
>would be able to supply you with this information?
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Re: [GNC] Tax report options

[David T. via gnucash-user]

I enter these foreign tax transactions as they are transmitted to me by the 
broker (my brokerage presents them all). They go to a separate foreign tax 
account, making tracking easy. 

⁣David T. ​

On May 14, 2023, 5:44 PM, at 5:44 PM, Fred Tydeman  
wrote:
>When I get the 1099 DIV forms for mutual funds and stock brokerage
>accounts,
>I add two transactions dated year end (if this is the only mention of
>foreign taxes):
>  Foreign tax:  +xxx  (expense)
>  Dividend:   +xxx  (income)
>for each net foreign tax paid for each security.
>I am looking for the total of all the foreign tax entries.
>
>Other investments, tell me about each gross dividend / interest payment
>and
>how
>much foreign tax was withheld.  Those I can enter as each is done.
>
>
>
>On Sun, May 14, 2023 at 4:24 PM Ken Farley  wrote:
>
>> Form 1116 has cost me at least a couple of iterations of filing my
>taxes
>> in the past. It would be nice if something told me I needed it...but
>> unless I was paying taxes to a foreign nation directly, meaning a
>> transaction occurs in one of my accounts, I don't see how I would
>have
>> it included in this report. Dividends I get, interest received,
>capital
>> gains, etc. These are all entries into my ledgers that the report can
>be
>> told to use. The taxes paid that are useful for the Form 1116 tax
>credit
>> are only known to me when I get my 1099 Forms from my investment
>> brokerage. I have absolutely no idea what they will be until I see
>that
>> entry in the form. So, I don't understand how the tax report in
>Gnucash
>> would be able to supply you with this information?
>> ___
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Re: [GNC] Tax report options

[Brad Morrison]

While I have nothing useful to say about tracking foreign taxes paid in 
GnuCash, I will add that IRS Form 1116 
(https://www.irs.gov/forms-pubs/about-form-1116) is unpleasant to deal 
with and the firm that I work for usually elects not to file it, if the 
client meets the election requirements 
(https://www.irs.gov/instructions/i1116#en_US_2022_publink11441fd0e81), 
which in most cases is limited by bullet point #3 on that first list: 
"Your total creditable foreign taxes aren't more than $300 ($600 if 
married filing a joint return)." Well, as long as we are talking about 
individual returns and not fiduciary (estates, trusts) returns...


It does not look like Open Tax Solver supports form 1116 - 
https://opentaxsolver.sourceforge.net/forms.html


Brad

On 5/14/23 07:43, Fred Tydeman wrote:

When I get the 1099 DIV forms for mutual funds and stock brokerage accounts,
I add two transactions dated year end (if this is the only mention of
foreign taxes):
   Foreign tax:  +xxx  (expense)
   Dividend:   +xxx  (income)
for each net foreign tax paid for each security.
I am looking for the total of all the foreign tax entries.

Other investments, tell me about each gross dividend / interest payment and
how
much foreign tax was withheld.  Those I can enter as each is done.



On Sun, May 14, 2023 at 4:24 PM Ken Farley  wrote:


Form 1116 has cost me at least a couple of iterations of filing my taxes
in the past. It would be nice if something told me I needed it...but
unless I was paying taxes to a foreign nation directly, meaning a
transaction occurs in one of my accounts, I don't see how I would have
it included in this report. Dividends I get, interest received, capital
gains, etc. These are all entries into my ledgers that the report can be
told to use. The taxes paid that are useful for the Form 1116 tax credit
are only known to me when I get my 1099 Forms from my investment
brokerage. I have absolutely no idea what they will be until I see that
entry in the form. So, I don't understand how the tax report in Gnucash
would be able to supply you with this information?
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Re: [GNC] Tax report options

[Fred Tydeman]

When I get the 1099 DIV forms for mutual funds and stock brokerage accounts,
I add two transactions dated year end (if this is the only mention of
foreign taxes):
  Foreign tax:  +xxx  (expense)
  Dividend:   +xxx  (income)
for each net foreign tax paid for each security.
I am looking for the total of all the foreign tax entries.

Other investments, tell me about each gross dividend / interest payment and
how
much foreign tax was withheld.  Those I can enter as each is done.



On Sun, May 14, 2023 at 4:24 PM Ken Farley  wrote:

> Form 1116 has cost me at least a couple of iterations of filing my taxes
> in the past. It would be nice if something told me I needed it...but
> unless I was paying taxes to a foreign nation directly, meaning a
> transaction occurs in one of my accounts, I don't see how I would have
> it included in this report. Dividends I get, interest received, capital
> gains, etc. These are all entries into my ledgers that the report can be
> told to use. The taxes paid that are useful for the Form 1116 tax credit
> are only known to me when I get my 1099 Forms from my investment
> brokerage. I have absolutely no idea what they will be until I see that
> entry in the form. So, I don't understand how the tax report in Gnucash
> would be able to supply you with this information?
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Re: [GNC] Tax report options

[Ken Farley]

Form 1116 has cost me at least a couple of iterations of filing my taxes 
in the past. It would be nice if something told me I needed it...but 
unless I was paying taxes to a foreign nation directly, meaning a 
transaction occurs in one of my accounts, I don't see how I would have 
it included in this report. Dividends I get, interest received, capital 
gains, etc. These are all entries into my ledgers that the report can be 
told to use. The taxes paid that are useful for the Form 1116 tax credit 
are only known to me when I get my 1099 Forms from my investment 
brokerage. I have absolutely no idea what they will be until I see that 
entry in the form. So, I don't understand how the tax report in Gnucash 
would be able to supply you with this information?

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Re: [GNC] Tax report options

[Fred Tydeman]

Thank you.  That worked.

On Sun, May 14, 2023 at 12:11 PM David T.  wrote:

> You should be able to select an account and its children to receive a
> single tax code. In the past, you could only set a single account, but I
> believe now that you can assign multiple accounts to a single code.
>
> Note that you cannot go through and set all your accounts to various tax
> assignments in one pass; the code doesn't allow that (or at least hasn't in
> my experience).
>
> David T.
> On May 14, 2023, at 11:43 AM, Fred Tydeman  wrote:
>>
>> I have marked a dividend parent account as Sch B dividend income.
>> Is there an easy way to apply that to all of its child accounts?
>> Or, do I have to add the income tax information to each child one by one?
>> --
>>
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Re: [GNC] Tax report options

[David T. via gnucash-user]

You should be able to select an account and its children to receive a single 
tax code. In the past, you could only set a single account, but I believe now 
that you can assign multiple accounts to a single code.

Note that you cannot go through and set all your accounts to various tax 
assignments in one pass; the code doesn't allow that (or at least hasn't in my 
experience).

⁣David T. ​

On May 14, 2023, 11:43 AM, at 11:43 AM, Fred Tydeman  
wrote:
>I have marked a dividend parent account as Sch B dividend income.
>Is there an easy way to apply that to all of its child accounts?
>Or, do I have to add the income tax information to each child one by
>one?
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[GNC] Tax report options

[Fred Tydeman]

I have marked a dividend parent account as Sch B dividend income.
Is there an easy way to apply that to all of its child accounts?
Or, do I have to add the income tax information to each child one by one?
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Re: [GNC] Tax report options

[David T. via gnucash-user]

Of course there is, but it's unlikely to be a simple fix. Alex A. has been the 
primary maintainer of the tax options code. From my recollections, the process 
is not entirely straightforward. 
⁣
David T.​

On May 14, 2023, 09:56, at 09:56, Fred Tydeman  wrote:
>Is there a way to add to the Edit -> Tax Report Options?
>For example, I would like to add Form 1116 Foreign Tax Credit
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[GNC] Tax report options

[Fred Tydeman]

Is there a way to add to the Edit -> Tax Report Options?
For example, I would like to add Form 1116 Foreign Tax Credit
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Re: [GNC] Tax Report Options not working

[Tom Charles]

I used the official 3.1 release...will stay with 2.6.21 for a while, thx!

On Tue, May 8, 2018, 5:38 PM David Carlson 
wrote:

> Tom ,  Since you are using Windows 10 the issue must be a Windows thing.
> Are you using the official release or one of the nightly builds?
>
> I don't know if the developers would suggest trying one of them for this
> issue, but I see that there is a May 6 build in the nightly directory. <
> https://code.gnucash.org/builds/win32/maint/> I guess I would stay with
> 2.6.21 for a while.
>
> David C
>
> On Tue, May 8, 2018 at 3:43 PM, Geert Janssens  > wrote:
>
>> Tom,
>>
>> I'm glad you got it working.
>>
>> I have just tried this on my Fedora linux system and there the tax
>> entries do
>> stick. I tried with both an xml based file and a sqlite3 based one.
>>
>> So I don't know why it's not on your system.
>>
>> Geert
>>
>> Op dinsdag 8 mei 2018 22:29:56 CEST schreef Tom Charles:
>> > Thanks David!  I downgraded to version 2.6.21 and IT WORKS!!!, i.e. the
>> > entity type now "sticks" and I can run the report just fine!
>> >
>> > Must be a bug in the v3.x version for Windows 10.
>>
>>
>>
>>
>
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Re: [GNC] Tax Report Options not working

[David Carlson]

 Tom ,  Since you are using Windows 10 the issue must be a Windows thing.
Are you using the official release or one of the nightly builds?

I don't know if the developers would suggest trying one of them for this
issue, but I see that there is a May 6 build in the nightly directory. <
https://code.gnucash.org/builds/win32/maint/> I guess I would stay with
2.6.21 for a while.

David C

On Tue, May 8, 2018 at 3:43 PM, Geert Janssens 
wrote:

> Tom,
>
> I'm glad you got it working.
>
> I have just tried this on my Fedora linux system and there the tax entries
> do
> stick. I tried with both an xml based file and a sqlite3 based one.
>
> So I don't know why it's not on your system.
>
> Geert
>
> Op dinsdag 8 mei 2018 22:29:56 CEST schreef Tom Charles:
> > Thanks David!  I downgraded to version 2.6.21 and IT WORKS!!!, i.e. the
> > entity type now "sticks" and I can run the report just fine!
> >
> > Must be a bug in the v3.x version for Windows 10.
>
>
>
>
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Re: [GNC] Tax Report Options not working

[Geert Janssens]

Tom,

I'm glad you got it working.

I have just tried this on my Fedora linux system and there the tax entries do 
stick. I tried with both an xml based file and a sqlite3 based one.

So I don't know why it's not on your system.

Geert

Op dinsdag 8 mei 2018 22:29:56 CEST schreef Tom Charles:
> Thanks David!  I downgraded to version 2.6.21 and IT WORKS!!!, i.e. the
> entity type now "sticks" and I can run the report just fine!
> 
> Must be a bug in the v3.x version for Windows 10.



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Re: [GNC] Tax Report Options not working

[David Carlson]

I cannot say whether version 3.x is different as I have not tried that, but
in the 2.6.x versions it is necessary  to use the tax report options
configuration to assign a tax form, line number and copy number to each tax
worthy account individually before it will appear in the Tax report.  Since
it is impossible to do this to more than one account at a time, it is very
tedious to set up initially, but it is nice once it is working.  In my case
I am in the US and using the US forms. I started with accounts that are
assigned to the basic income lines on the 1040 form.  If your tax situation
involves as many forms and lines as mine, it will probably take several
trials to find all the accounts that are tax worthy and get them correctly
assigned.

Once you feel that you are close you can check the Tax Info Column in the
Chart of Accounts to verify whether any given account is configured for the
tax report.

Since you state that you did those things but the information is not
'sticking', that is probably a bug in the 3.x release.  I know that others
have reported bugs with various reports in v3.x

Lets hear from others who have migrated with a previously configured tax
report.

David C

On Mon, May 7, 2018 at 10:52 PM, Tom Charles  wrote:

> Hello,
>
> I am using v3.1 of GNUCash and I  am try to set up the Tax Schedule Report
> and cannot figure out why I cannot get the report to run and give me the
> expected data.   The message I get is the following:
>
> Period from 2018-Jan-01 to 2018-Dec-31
> Tax Year 2018
> Tax Entity Type: *None specified*
>  All amounts in USD unless otherwise noted
> The Income Tax Report is only available for valid Income Tax Entity
> Types. Go to the Edit->Tax Report Options dialog to change your Income Tax
> Entity Type selection and set up tax-related accounts.
>
> I did use the Edit->Tax Report Options to set the tax related information
> for my accounts.
>
> In the dialog box I select Edit. Then I set the "Type" to "Individual,
> Joint, etc. - Files US Form 1040 Tax Return", then clicked apply.
> I then went through and for each account that I wanted in the report I
> selected the "Tax Related" box, then selected the TXF category for each. I
> then clicked OK.
>
> I noticed when I looked at the accounts in the "Accounts" page it stated
> (under the "Tax Info" heading) for each account that the "Tax Entity Type
> was not specified" for every account I set up.  This seems to relate to the
> notice I get when I run the report.
>
>
> What am I missing? Any help would be much appreciated!
>
> Thanks in advance!
> Tom
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[GNC] Tax Report Options not working

[Tom Charles]

Hello,

I am using v3.1 of GNUCash and I  am try to set up the Tax Schedule Report
and cannot figure out why I cannot get the report to run and give me the
expected data.   The message I get is the following:

Period from 2018-Jan-01 to 2018-Dec-31
Tax Year 2018
Tax Entity Type: *None specified*
 All amounts in USD unless otherwise noted
The Income Tax Report is only available for valid Income Tax Entity
Types. Go to the Edit->Tax Report Options dialog to change your Income Tax
Entity Type selection and set up tax-related accounts.

I did use the Edit->Tax Report Options to set the tax related information
for my accounts.

In the dialog box I select Edit. Then I set the "Type" to "Individual,
Joint, etc. - Files US Form 1040 Tax Return", then clicked apply.
I then went through and for each account that I wanted in the report I
selected the "Tax Related" box, then selected the TXF category for each. I
then clicked OK.

I noticed when I looked at the accounts in the "Accounts" page it stated
(under the "Tax Info" heading) for each account that the "Tax Entity Type
was not specified" for every account I set up.  This seems to relate to the
notice I get when I run the report.


What am I missing? Any help would be much appreciated!

Thanks in advance!
Tom
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