This report allows you to export all tax related Income and Expenses to a TXF (Tax eXchange Format) file that can be imported into tax filing programs such as TaxCut or TurboTax.
NOTE: For this to work, the user has to segregate taxable and not taxable income to different accounts, as well as deductible and non deductible expenses. The user also must Set the TXF category of each tax related account. The "Txf Export Init" tab on the parameter dialog allows this. It is best to set this up from the Tax Report before actually running this report. Otherwise, you will just get an empty file. There is a taxreport.xac file in the examples directory, which shows one way this can be set up.
IMPORTANT: Most TXF codes should only appear on a single account! The exceptions are codes preceded with "<" or "^", which can appear many times. Of course, each duplicate should have a unique payer name.
All of the parameters for the Tax Report still apply for the actual export. Only the "Txf Export Init" parameters are described here.
The account(s) for which to set a TXF category. If no account is selected nothing is changed. If multiple accounts are selected, all of the Income accounts will be set to the selected item in the INCOME list box, and all of the Expense accounts will be set to the selected item in the EXPENSE list box.
Print extended TXF HELP messages gives detailed descriptions of each TXF category, instead of the usual tax report.
INCOME TXF category selection (Select ONLY ONE!)
TXF categories preceded with a "<" or "^" export a payer name along with the value of the account. This is usually the name of a bank, stock, or mutual fund that pays dividends or interest. Occasionally, it is a description of a deduction.
On the report above, "Money Market Fund One" is an example of where the name of the current account is exported. This is typically used when the fund pays only one type if income, such as interest. For "Mutual Fund Four" and "Mutual Fund Five", the categories "Long Term Cap Gain" and "Dividend Income" both will export the name of the parent account. This is typically used when the fund pays several different types of distributions. As shown in this example, these funds have three types of distributions, but the "Income" and "Short Term Cap Gain" categories are totaled and exported together as "Dividend Income", as they are taxed the same.
Default as indicated in the list box
< Current Account
^ Parent Account
EXPENSE TXF category selection (Select ONLY ONE!)