How would I do this in Miney 2007?

I have investments in a Mutual Fund. They also have a charitable program I
can send funds to, take the charitable donation, then at a later time move
funds to a specific approved charity of my choice.



One option is to send cash to this charitable fund, the option I chose was
to transfer shares from y mutual fund to it - you don't pay tax on the
appreciation of the shares, they just reduce the # of shares in that account
and add the liquidated amount into your charitable fund.



The only way I can see to do this in Money is to "Sell" the mutual fund to
its cash fund, then incur the charitable expense from there. But it's really
not a sale, and messes up the capital gains report.



Is there a better way to do this?

Dick
Sat Dec 23 16:34:38 CST 2006

None is coming to mind. This is one of many cases where even if Money tried
to model everything that can be done, it would probably fall short. For
purposes like this, the memo field and careful interpretation/validation of
the data reported is a must.

"Don Awalt" <donawalt@removethisgmail.com> wrote in message
news:uheX%237oJHHA.4244@TK2MSFTNGP04.phx.gbl...
> The only way I can see to do this in Money is to "Sell" the mutual fund to
> its cash fund, then incur the charitable expense from there. But it's
> really not a sale, and messes up the capital gains report.
>
> Is there a better way to do this?

Marilyn
Sat Dec 23 22:29:00 CST 2006

It seems to me that while you never see the cash, this really IS a sale.
You are not just removing shares, your basis in your fund is reduced by the
amount you paid for those shares. The only difference between this and an
ordinary sale is that you do not have to pay CG tax on the appreciation of
the sold shares. In other words, there is capital gain here which Money
duly will report. You are just not required to pay any tax on that gain. I
suppose Money could create a transaction type of Tax-Exempt Capital Gain,
but it hasn't as yet.
--
Peace,
BobJ

"Dick Watson" <littlegreengecko@mind-enufalready-spring.com> wrote in
message news:ur2$DKuJHHA.3552@TK2MSFTNGP03.phx.gbl...
> None is coming to mind. This is one of many cases where even if Money
> tried to model everything that can be done, it would probably fall short.
> For purposes like this, the memo field and careful
> interpretation/validation of the data reported is a must.
>
> "Don Awalt" <donawalt@removethisgmail.com> wrote in message
> news:uheX%237oJHHA.4244@TK2MSFTNGP04.phx.gbl...
>> The only way I can see to do this in Money is to "Sell" the mutual fund
>> to its cash fund, then incur the charitable expense from there. But it's
>> really not a sale, and messes up the capital gains report.
>>
>> Is there a better way to do this?
>
>

Dick
Sun Dec 24 08:31:47 CST 2006

I tend to agree. The only real issue here is expanding and exposing the
implicit mapping of mapping of investment activities to categories. Right
now that's all set once across the application. To make this work, you'd
have to expose this for each transaction since this case, say, wouldn't
apply to all Sells just to ones like this.

"Marilyn & Bob" <Privacy@nospam.please> wrote in message
news:OpI1HQxJHHA.4992@TK2MSFTNGP04.phx.gbl...
> It seems to me that while you never see the cash, this really IS a sale.
> You are not just removing shares, your basis in your fund is reduced by
> the amount you paid for those shares. The only difference between this
> and an ordinary sale is that you do not have to pay CG tax on the
> appreciation of the sold shares. In other words, there is capital gain
> here which Money duly will report. You are just not required to pay any
> tax on that gain. I suppose Money could create a transaction type of
> Tax-Exempt Capital Gain, but it hasn't as yet.

Don
Tue Dec 26 06:21:20 CST 2006

Yes you asre right, I would just need a way to exclude this in capital gains
reporting. Thanks, maybe some day they will add that.


"Dick Watson" <littlegreengecko@mind-enufalready-spring.com> wrote in
message news:%23fJf5g2JHHA.536@TK2MSFTNGP02.phx.gbl...
>I tend to agree. The only real issue here is expanding and exposing the
>implicit mapping of mapping of investment activities to categories. Right
>now that's all set once across the application. To make this work, you'd
>have to expose this for each transaction since this case, say, wouldn't
>apply to all Sells just to ones like this.
>
> "Marilyn & Bob" <Privacy@nospam.please> wrote in message
> news:OpI1HQxJHHA.4992@TK2MSFTNGP04.phx.gbl...
>> It seems to me that while you never see the cash, this really IS a sale.
>> You are not just removing shares, your basis in your fund is reduced by
>> the amount you paid for those shares. The only difference between this
>> and an ordinary sale is that you do not have to pay CG tax on the
>> appreciation of the sold shares. In other words, there is capital gain
>> here which Money duly will report. You are just not required to pay any
>> tax on that gain. I suppose Money could create a transaction type of
>> Tax-Exempt Capital Gain, but it hasn't as yet.
>
>