In that case, you have a few options: 1. Add a higher top-level ‘income’ type account called ‘Revenue’ and make ‘Income’ a child of it, then add other non-taxable receipt accounts as children of ‘Revenue’ 2. Create a regular ‘Income’ account but do not include it as ’taxable’ when using the tax report options. You could have a ’Non-Taxable Other Income’ account with various children under it to track each type if desired. 3. Create an Equity account to credit against the receipt of actual funds each month. This never hits ‘income’ and is beyond taxation considerations. Think of it akin to a shareholder’s capital account. Money is added to the entity (in this case, you, an individual) but that money is not part of a taxable equation, and is still usable by the entity which needs to be balanced against declared assets.
By all means, speak to a local CPA before embarking on any of these options for the best method advised for your particular situation. None of the above options are to be deemed as ‘accounting advice’ as to how you *should* handle the transaction, but how you *might* handle the transaction within GnuCash. There might be other options I’m not thinking of at the moment. Certainly, there are pro’s and con’s to each of the above. Regards, Adrien > On Apr 17, 2019, at 5:53 PM, gn00b <leo57ye...@hotmail.com> wrote: > > No, these payments are not taxable. _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
