tag:infinitekind.tenderapp.com,2009-01-14:/discussions/investments/6427-how-to-record-foreign-tax-paid-for-mutual-fundsInfinite Kind: Discussion 2022-03-23T21:40:18Ztag:infinitekind.tenderapp.com,2009-01-14:Comment/495606752021-12-22T21:38:49Z2021-12-22T21:38:49ZHow to record "foreign Tax Paid" for mutual funds?<div><p>I'm a fellow user.</p>
<p>My approach to recording what I term not for value transactions i.e. they do not affect my investment but are used for taxation and the like is to record them in such a way that does not impact the investment.</p>
<p>I do this by having a category for the "expense" or "income" item that I use in reporting and I have another category called Tax reporting which I do not use in any reports.</p>
<p>My transaction is thus entered as a DivXfr with the category and transfer fields being these two categories thus it shows in my reports under the right account/security but does not effect the investment at all. Dividends in Moneydance is really a indication of any income event, not just a Dividend. a price in the Dividend transaction is just a place holder in my opinion it should not be shown even if the data format requires something, but it should not place anything in the price history, in other words it should be ignored for all purposes.</p>
<p>This is also how I enter data from the tax report the funds produce so that I can get a consolidate tax report (Income and Expense) from Moneydance, that covers mot things.</p></div>dwg