How do I show long term capital gains in income and expense report?
Bob Hovey
via web
My capital gains report in the standard MD report list is correctly showing capital gains (and losses) in several trading accounts. Both trades imported from Quicken and new trades entered in MD are showing, ok I think.
In Quicken ,when I pull up the P&L (Income and Expense Report), these Capital Gains would be totaled and displayed as "Long Term Capital Gains" or "Short Term Capital Gains". In MD, I do not see them in the Income and Expense Report. Neither the imported transactions from Quicken nor the newer ones entered in MD show.
When I enter a sell transaction in MD, the category field is not hot. I need don't know how to format the report or enter the sell transaction so that it shows.
Thanks, Bob
Support Staff 2 Posted by Ben Spencer on 27 Nov, 2010 04:54 PM
Hi Bob
It is not currently an option to show the calculated capital gains in the income and expense report. Since the capital gains are calculated results based on the change in value of the securities rather than entries in an income category they are not included in the report. The capital gains report should be used instead.
Sincerely
Ben Spencer
Moneydance Support
3 Posted by bob Hovey on 27 Nov, 2010 09:43 PM
Ok, Please add this to your wish list for "next edition".
I believe Quicken has a toggle on the Income statement which allows it to display with or without the results of investment transactions.
I use it both ways, "without" when I'm planning household cash flow based on regular income and expense items, and "with" when I want to see the gross result of a quarter, year etc.
Thank you for your continuing responsiveness. These answers reduce frustration and add value to MD.
Btw, I was in an Apple store. They are selling the slimmed down version of Quicken (Essentials) and IBank. I believe Intuit (owner of Quicken) bought out IBank.
You folks need to start marketing to the abandoned Apple users
Bob
Support Staff 4 Posted by Ben Spencer on 27 Nov, 2010 10:05 PM
I have created a suggestion ticket to add an option to income and expense report to show the calculated cost basis.
I had not heard that intuit had bought out iBank. I searched the news for anything indicating that this was the case and did not find any. If this is the case it would be a huge shift in the personal finance scene on the mac. Do you have a link to an article that mentions this buy out?
Ben
5 Posted by The Hoveys on 28 Nov, 2010 12:46 AM
Sorry, it's not IBank, it was Mint that they bought.
Bob
Support Staff 6 Posted by Angie Rauscher on 28 Nov, 2010 11:27 AM
The Hoveys,
Yes, Mint was purchased by Intuit, which did have an impact on the personal finance market. We've logged this feature request and updates will automatically be posted to this thread, so you'll be notified if/when progress is made.
Thanks for using Moneydance, and please let me know if I can be of further assistance,
Angie Rauscher
Moneydance Support
7 Posted by frankrader on 17 Jan, 2012 02:01 PM
How do I use the "Long Term Capital Gains: and "Short Term Capital Gains" categories created in a standard set of categories by Moneydance? I have capital gains and losses, but they do not show in the "Income and Expense" report, but should. Gains/losses are part of my income and expense.
I've tried to manually enter the Gains/Losses, but did not see a way to do that, so how do I get proper Income and Expense report without using a pencil?
Support Staff 8 Posted by Tom Freeman on 17 Jan, 2012 05:07 PM
Frank
Because cap gains are taxed differently than ordinary income, it has its own report. It was expected that users would run it an an addendum to their ordinary income report which is based on the transfers between accounts and categories.
I am putting in a suggestion ticket to allow cap gains to be edited on to the income and expense report.
Tom
9 Posted by frankrader on 18 Jan, 2012 05:11 AM
Thanks. I am using Moneydance for a corporation where taxation below $50,000 income is same so the personal aspect does not impact my situation, though I use Moneydance for personal records, too.
I use Moneydance to track transactions and would not think of using it for taxes. It would be nice to have capital gains/losses automatic, but not necessary. It is necessary for me to have a direct path to manually enter them.
Because it is necessary, I'll keep playing with it.
10 Posted by The Hoveys on 18 Jan, 2012 02:57 PM
It's also very useful for retired folks who pay estimated taxes. It can be called up quarterly to guesstimate what tax payment to send in.
Bob
11 Posted by frankrader on 24 Apr, 2012 01:25 PM
Not including Cap Gains/Losses in a P/L report whether personal or business seems to doom reports to be incomplete.