How Money calculates tax worksheet values in Money 98 and 99

Money assigns categories for transactions to one or more category groups. Money analyzes the transactions in certain category groups to project your income and deductible expenses for the year and to calculate the values for most of the fields in the Tax Worksheet.

Because the Tax Worksheet is a planning tool, it uses the transactions you already recorded in your account registers to project the estimated value for each category group at the end of the year. To do this, Money uses the following methods:
  • If at least one future transaction in the Bill Calendar is assigned to a category in a specific category group, Money calculates the total value of all recorded and scheduled transactions in the category group, and then enters the sum in the appropriate field for that category group in the Tax Worksheet.
  • If no future transactions in the Bill Calendar are assigned to a category in a specific category group, Money calculates the value of all recorded transactions in the category group, divides the total by the number of whole months in the year before the current date, multiplies this value by 12, and then enters the value in the appropriate field for that category group in the Tax Worksheet.
The following table lists the category groups Money uses for each field in the Tax Worksheet:

TabFieldCategory Group(s)
IncomeWages & SalarySalary Income
IncomeInterest & DividendsInterest & Dividends
IncomeShort-Term Gain Or LossShort-Term Cap Gains
IncomeMid-Term Gain Or LossMid-Term Cap Gains
IncomeLong-Term Gain Or LossLong-Term Cap Gains
IncomeState Or Local Tax RefundState/Local Tax Refund
IncomeAlimonyAlimony Received
IncomeUnemploymentUnemployment Income
IncomeOther IncomeOther Income
AdjustmentsTax-Deferred Retirement FundsNot calculated
AdjustmentsSelf-Employment TaxNot calculated
AdjustmentsSelf-Employment Health InsuranceNot calculated
AdjustmentsAlimony PaidAlimony Payments
AdjustmentsUnreimbursed Moving ExpensesNot calculated
AdjustmentsOther AdjustmentsNot calculated
DeductionsMedical & DentalMedical/Dental Expenses
DeductionsReal Estate & Other TaxesReal Estate Taxes
State Tax Payments
Other Tax Payments
DeductionsDeductible Investment InterestDeductible Interest
DeductionsMortgage InterestMortgage Interest
DeductionsCharity - Cash ContributionsCharitable Donations
DeductionsCharity - Non-CashNot calculated
DeductionsCasualty Theft Or LossNot calculated
DeductionsMiscellaneous DeductionsNon-Reimb. Job Exp.
AnalysisEstimated Taxes WithheldFederal Taxes

To review the categories assigned to each category group, follow these steps:
  1. On the Money navigation bar, click Categories.
  2. Click View, and then click Categories, Subcategories, and Their Category Groups.
  3. Note the category group for each category and subcategory.
To move a category or subcategory to a different category group, follow these steps:
  1. In the category list, double-click the category or subcategory you want to move to a different category group.
  2. In the Category Group box, click the category group you want to use.
  3. On the Money navigation bar, click Back.
  4. Repeat these steps for each category or subcategory you want to move to a different category group.


Category: Tax

Keywords: Worksheet, Q180999, Calculation, Category Groups, Tax, Q200937

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